Trump Org Scrambles to Distance Itself from Magic Eden’s Controversial NFT Wallet Launch
Another day, another crypto-branding fiasco. The Trump Organization just slapped a denial on Magic Eden’s claim of involvement in their new Trump-branded wallet—because nothing says ’trustless’ like legacy names scrambling to avoid Web3 associations.
No official numbers were disclosed, but you can bet the wallet’s launch traffic spiked faster than a meme coin on Elon’s Twitter. Meanwhile, finance traditionalists smirk—proving once again that in crypto, even the ’stable’ assets come with drama.
Trump Organization denies involvement in Magic Eden’s viral Trump Wallet launch
Donald Trump Jr. clarified that the Trump Organization has no connection to rumors of a recently launched official crypto wallet for President Trump.
In an X post on Tuesday, Trump Jr. stated that he has "zero knowledge" about the new wallet, which made headlines a few hours after its release. Eric Trump, who partly manages the Trump Organization, also stated that he knows "nothing about this project."
The disclaimer served as a response to a post from Magic Eden a few hours before, which called for users to join a waitlist for the Trump wallet rollout. The website added a section saying, "Magic Eden partnered with GetTrumpMemes.com to create the first and only $TRUMP Wallet." It also claims to offer up to $1 million in TRUMP token rewards.
The Trump Organization’s denial has raised questions about the authenticity of the project despite Magic Eden’s reputation in the cryptocurrency industry. However, Donald Trump Jr. added that the Trump Organization, through World Liberty Financial, is developing a wallet, but it has not yet been launched.
Following the development, the New York Stock Exchange (NYSE) filed with the Securities and Exchange Commission (SEC) to list and trade the Truth Social Bitcoin ETF. This comes after the Trump Media Technology Group completed a private offering worth $2.4 billion last week to create its Bitcoin treasury.
Meanwhile, President Donald Trump has faced several allegations regarding his ties to the cryptocurrency industry in recent months. Politicians have constantly echoed concerns about Trump-related companies, including World Liberty Financial.
House Democrats previously sent a letter to Treasury Secretary Scott Bessent, seeking to gain reports on suspicious activities on WLFI. They also stated that Trump’s involvement with cryptocurrency could lead to regulatory manipulation of frameworks for the industry.
