Key Takeaways

• Eric Trump has publicly denied any involvement in the “Official $TRUMP Wallet” promoted by Magic Eden.

• The Trump family warns that the use of their name in this project is completely unauthorized.

• Magic Eden has not yet responded to calls for clarification or comment.

• The crypto wallet is built on Slingshot Finance, but its compliance procedures remain unclear.

Magic Eden’s Controversial Trump Wallet Launch

Earlier this week, Magic Eden announced its partnership with the team behind the $TRUMP meme coin to launch what it called the “Official $TRUMP Wallet.”

Promising the ability to trade $TRUMP tokens along with other popular cryptocurrencies such as Bitcoin, the wallet also teased users with a $1 million sweepstakes in $TRUMP rewards. A waitlist is currently live at TrumpWallet.com.

However, the announcement quickly snowballed into controversy.

Eric Trump Publicly Disavows The Crypto Wallet

Within hours of the announcement, Eric Trump took to X to distance himself and the Trump brand from the crypto initiative.

Eric Trump Calls Out Magic Eden

Source: X (@EricTrump)

His comments were blunt and clear: the wallet was launched without the approval or involvement of anyone from the Trump family. He also issued a stern warning to Magic Eden to be cautious about using the Trump name in connection with any project that hasn’t been officially endorsed.

Donald Trump Jr. Chimes In

Donald Trump Jr. echoed his brother’s sentiments, noting that the Trump family is in the process of developing its own digital wallet in collaboration with World Liberty Financial. He emphasized that any crypto products bearing the Trump name should be treated with skepticism unless announced directly by the family or its official representatives.

Conflicting Signals & A Murky Ecosystem

Despite the disavowal, the wallet had been promoted by the verified TrumpMeme account on X, further confusing the situation. The now-suspended @TrumpWalletApp account had previously claimed to represent “the first and only crypto wallet for true Trump fans.”

Magic Eden Promoting The Wallet

Source: X (@MagicEden)

As of now, Magic Eden has not issued a public comment regarding the Trump family’s statements, nor has it clarified whether the wallet’s branding will be revised in light of the backlash.

Magic Eden’s Push For Mainstream Adoption

Magic Eden CEO Jack Lu previously described the wallet as a major step toward onboarding mainstream users into the crypto space. The product itself appears to be built on the foundation of Slingshot Finance, a self-custodial trading app that Magic Eden acquired earlier this year.

Slingshot supports a variety of meme tokens such as BONK and FARTCOIN. Identity verification is handled via a third-party provider, MoonPay, rather than Magic Eden directly. However, questions remain about how revenue and responsibilities are being divided among Magic Eden, Slingshot, and the $TRUMP team.

Trump Family’s Expanding Crypto Footprint

The Trump family has not been entirely absent from the crypto world. Over the past year, they’ve made headlines with various digital ventures. These include:

• Launching a Bitcoin mining operation. 
• Issuing NFT collections. 
• Promoting a stablecoin tied to their online ecosystem. 
• Teasing upcoming crypto ETFs through TruthFi, the financial arm of Truth Social. 

In fact, President Donald Trump even hosted a private, black-tie dinner for top $TRUMP holders in May, signaling a direct connection between campaign efforts and crypto fundraising.

FAQ

Is Eric Trump involved in the $TRUMP Wallet project?

No. Eric Trump has explicitly stated that neither he nor any member of the Trump family is affiliated with the wallet launched by Magic Eden.

Can Magic Eden legally use the Trump name?

The use of the Trump name without official permission could lead to legal action. Eric Trump has warned Magic Eden about potential misuse, and legal proceedings could follow if the branding is not corrected.

What is the Trump family working on in the crypto space?

According to Donald Trump Jr., the family is developing a separate wallet project in collaboration with World Liberty Financial. They have also been involved in NFTs, stablecoins, and Bitcoin mining.

Is the $TRUMP coin affiliated with the Trump family?

As of now, there is no confirmed, official connection between the Trump family and the $TRUMP meme coin. All endorsements should be verified through official Trump family channels.