Trump Family Denounces Unauthorized Crypto Wallet Launch

The launch of a Donald Trump-branded crypto wallet by the team behind his memecoin, Official Trump (TRUMP), has been met with confusion and disarray. The announcement, made in conjunction with the non-fungible token marketplace, was intended to introduce "the Official $TRUMP Wallet." However, the Trump family, including Donald Trump Jr. and Eric Trump, swiftly distanced themselves from the project, asserting that the Trump Organization had no involvement and that the wallet was not authorized by their father.

Donald Trump Jr. took to social media to clarify that the Trump Organization, which manages the 's extensive real estate and business interests, was not involved in the wallet's development. He also mentioned that the family's own crypto platform, World Liberty Financial, would soon be launching its official wallet. Eric Trump echoed this sentiment, warning the marketplace to be cautious about using the Trump name in a project that had not been approved by the family. Even Barron Trump, the youngest son, made his first-ever post on the social media platform to reiterate that the family had no involvement with the wallet.

The confusion surrounding the wallet launch has been described as "absolute chaos" by a crypto skeptic, who speculated that there may be a breakdown in communication between the various crypto-related businesses linked to the Trump family. The TRUMP token team, the marketplace, and the platform’s CEO have not issued any public statements regarding the matter.

The Trump Wallet website, which describes itself as the "Official $TRUMP Wallet by President Trump," claims that the marketplace partnered with GetTrumpMemes.com for its upcoming launch. The website is owned by Fight Fight Fight LLC, a company co-owned by CIC Digital LLC, an affiliate of the Trump Organization. Together, these two firms own a majority of the TRUMP token supply. American businessman Bill Zanker, who is listed on documents for Fight Fight Fight LLC and holds a substantial quantity of Trump tokens through CIC Digital, is part of the team that helped launch the TRUMP memecoin and various Trump-backed NFT collections. Zanker is also involved in developing a Monopoly-style game that blends gaming and crypto elements.

This is not the first instance of confusion surrounding crypto ventures bearing the Trump name. Earlier, the company behind President Trump’s social media platform initially denied reports of raising funds to buy Bitcoin and other cryptocurrencies. The company later confirmed a $2.5 billion capital raise to purchase Bitcoin through a combination of stock sales and convertible bonds. The conflicting statements and lack of clarity have raised questions about the coordination and oversight within the Trump family's crypto ventures.