- Trump’s meme wallet project was scrapped after legal threats and denial of involvement by the Trump family.
- Eric Trump confirmed WLFI will now lead the charge, acquiring a major stake in $TRUMP and building long-term strategy.
- WLFI also launched USD1 stablecoin distributions, showing commitment to deeper DeFi expansion.
The Trump-branded crypto wallet and trading platform unveiled earlier this week has been abruptly shelved following widespread confusion and legal pushback. A cease-and-desist letter reportedly sent by World Liberty Financial (WLFI) led to the shutdown of the wallet, initially announced in collaboration with NFT marketplace Magic Eden and Fight Fight Fight LLC.
Eric Trump Confirms Shift in Strategy
On Friday, Eric Trump clarified that while the “meme wallet” won’t be moving forward, the Official Trump memecoin remains active and closely aligned with WLFI. In a post on X, he emphasized their joint commitment to growing $TRUMP and revealed that WLFI plans to take a “substantial position” in the memecoin as part of its long-term treasury strategy. The move marks a strategic pivot toward broader crypto ambitions rooted in patriotism and innovation.
Legal Tussles and Conflicting Claims
The original wallet project, touted by Magic Eden’s CEO as a hub to trade $TRUMP along with BTC, ETH, and other major cryptocurrencies, quickly hit turbulence. President Trump’s sons—Donald Jr., Eric, and Barron—denied any affiliation between the Trump Organization and the wallet, insisting WLFI would deliver the only “official” version. The ensuing confusion triggered WLFI to issue a cease-and-desist, aiming to preserve brand clarity and control over Trump’s crypto narrative.
Crypto Politics and Stablecoin Drop
Despite the wallet’s collapse, Trump’s engagement in crypto remains active. Earlier this week, he hosted the top 220 holders of the $TRUMP token at his D.C.-area golf club, fueling backlash from political opponents. Meanwhile, WLFI also distributed USD1 stablecoins to participants in its native WLFI token sale, indicating a continued push to grow its decentralized finance presence.
