News View Non-AMP

Big News: Trump Team Disowns ‘$Trump Wallet’ Project Backed by Magic Eden

Published by
Anjali Belgaumkar

The crypto world is buzzing over a new project called the Trump Wallet — but it turns out even Donald Trump’s inner circle didn’t see it coming. Within hours of its announcement, the wallet — promoted as a collaboration between the Trump memecoin team and major NFT marketplace Magic Eden — made headlines online. The project promised Trump token rewards, referral-based giveaways, and exclusive digital “Trump boxes.”

Trump Team Issues Statement

However, controversy started when Eric Trump and Donald Trump Jr. publicly denied any involvement, warning users that the Trump Organization had not authorized the wallet. “This project is not authorized by the Trump Organization,” Eric Trump posted. “Magic Eden I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization.” Additionally, A spokesperson for the Trump Organization told CoinDesk: “The Trump Organization knows nothing about this project.”

This public denial raised eyebrows as Magic Eden, a trusted name in the NFT space, confirmed the project’s legitimacy on its official channels. The wallet is reportedly tied to the team behind the Trump memecoin, which previously licensed Trump’s name for their crypto project earlier this year.

Is The Project Secure?

Even as Trump’s representatives distanced themselves, the memecoin’s official X account insisted that the Trump Wallet was “coming soon.”

The confusion shows a growing disconnect between meme coin operators leveraging celebrity brands and the actual figures behind those names. While Magic Eden maintains the project is real and secure, the Trump family’s rejection of any involvement leaves crypto enthusiasts uncertain about its official status.

For now, it appears the Trump memecoin team is moving ahead with the wallet launch despite the public pushback — a classic case of crypto’s Wild West atmosphere colliding with politics.

FAQs

What is Donald Trump’s current stance on cryptocurrency?

Donald Trump has become pro-crypto, aiming to make the US a global crypto leader. His administration has launched a Strategic Bitcoin Reserve and supports industry growth.

What is World Liberty Financial?

World Liberty Financial is a crypto venture founded in 2024 with direct ties to the Trump family, aiming to create a DeFi platform and launching a USD1 stablecoin.

What is Trump’s crypto policy aiming to achieve?

Trump’s crypto policy seeks to establish a clear regulatory framework, encourage US-based mining, potentially create a national Bitcoin reserve, and oppose CBDCs.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Bitcoin Hyper Presale Smashes $7M as BTC Flashes Signal for New ATH

Currently trading at $114,800, Bitcoin is establishing strong support above the $114,000 level, bolstering positive…

August 7, 2025

India Government Detects ₹630 Crore in Undisclosed Crypto Income

The Indian government reported uncovering ₹630 crore in undisclosed income related to cryptocurrency during recent…

August 7, 2025

Bullish Patterns Emerge in LTC, POL & CFX Prices as Crypto Market Consolidates—Is a Rally Brewing?

While the broader crypto market remains trapped in a tight consolidation range, select altcoins like…

August 7, 2025

ICBA to OCC: Reject Ripple’s Bank Application Over Stablecoin and Compliance Issues

The Independent Community Bankers of America (ICBA) has issued a letter to the Office of…

August 7, 2025

Bakkt Acquires Stake in Marusho Hotta, Rebrands as “bitcoin.jp” for Crypto Treasury Shift

Bakkt Holdings will acquire a 30% stake in Japanese yarn maker Marusho Hotta for $115…

August 7, 2025

Caitlin Long: Ripple Hamstrung by SEC Crackdown, XRP Won’t Be Treasury’s Pick

Ripple is once again at the center of controversy after financial expert Caitlin Long delivered…

August 7, 2025