by A digital asset company has teamed up with the creators of President Donald Trump’s $TRUMP meme coin to launch the so-called “Official $TRUMP Wallet” — a new app designed to let users trade the $TRUMP coin and other cryptocurrencies. But Trump’s own sons, who run the family’s crypto ventures, quickly distanced themselves from the project, saying they have no involvement.
Jack Lu, CEO of the digital asset marketplace Magic Eden, announced the partnership on X (formerly Twitter) Tuesday, calling the $TRUMP Wallet a way to bring more mainstream users into the crypto world. According to Lu, the app will enable users to conduct financial transactions and trade the $TRUMP coin alongside other digital currencies.
However, within hours, Eric Trump posted on social media, “I run @Trump and I know nothing about this project!” Donald Trump Jr. also chimed in, stating he “has zero involvement with this wallet product” and hinted at plans for a different crypto wallet under their Trump-affiliated company, World Liberty Financial.
Despite these denials, the $TRUMP Wallet’s launch touted itself as the “First and Only Crypto Wallet for True Trump Fans.” Lu emphasized on X that the partnership with the $TRUMP team signals a commitment to expanding crypto adoption.
ABC News reached out to Magic Eden for clarification. Meanwhile, the @TrumpWalletApp account on X was suspended by the platform, which is owned by Trump ally Elon Musk. The reason for the suspension remains unclear.
The $TRUMP Wallet website offers minimal details about the platform but invites visitors to join a waitlist ahead of a future official launch. Signing up also enters users into a sweepstakes for a share of $1 million in $TRUMP rewards.
Once a skeptic of cryptocurrency, Trump and his family have plunged headfirst into the space in recent months. They’ve developed not only the $TRUMP meme coin—a digital currency inspired by internet memes—but also a bitcoin mining operation, a stablecoin project, and a crypto reserve.
Last month, Trump hosted a black-tie event celebrating top investors in his $TRUMP coin, with at least some of the proceeds going directly to the Trump family.
Critics have voiced concerns over potential conflicts of interest, pointing to the Trump administration’s regulatory role in cryptocurrency while the family stands to profit from their own crypto ventures.
When asked about these concerns on CNBC, Donald Trump Jr. explained that the family “got into [crypto] out of necessity,” claiming they had been “de-banked” due to their political involvement.
“We got into politics and all of a sudden [the banks] wouldn’t take our call,” he said. “We went all in on a concept that makes total sense because we’d actually been the recipients of how quickly that can be shut off.”
