Trump Family Threatens Legal Action Against TrumpCoin

Six years after entering the market, a cryptocurrency called TrumpCoin (TRUMP) has finally drawn the ire of the Trump dynasty.

On Jan. 25, Donald Trump's second son, Eric Trump, threatened legal action against cryptocurrency TRUMP for allegedly fraudulently using his family's name.

Fraud Warning: It has come to our attention that someone is promoting a cryptocurrency called "TrumpCoin" (codename "TRUMP"), which has no affiliation with our family, we do not have authorization to use it, and we have no affiliation with this team. We will take legal action.

— Eric Trump (@EricTrump) January 24, 2022

TRUMP was launched in the first quarter of 2016 at the start of the campaign season for the 45th President of the United States. It claims to be “a cryptocurrency created by patriots for patriots everywhere.”

The TrumpCoin team apparently anticipated that the Trump family would file a lawsuit at some point. About 24 hours after Eric issued his threat, TrumpCoin’s Twitter account fired back, emphasizing a disclaimer on its website acknowledging that TrumpCoin has no connection to the Trump family or any of its related properties.

@EricTrump , this is our website https://t.co/ilziwkSinB . https://t.co/mhWEnQhqYSpic.twitter.com/ISO394MkHN

— Trumpcoin - #1 Patriot Cryptocurrency (@TrumpCoinWW) January 24, 2022

As of this writing, TRUMP is currently trading at $0.28 with a 24-hour volume of $13,313, according to CoinGecko data.

The Trump family is no stranger to the crypto industry. Melania Trump recently auctioned off a hat she wore as first lady. Payments accepted in SOL. She also congratulated Bitcoin on its 13th birthday earlier this year.

However, Donald Trump does not take cryptocurrencies as seriously as his wife. Last October, he said cryptocurrencies were a threat to the dollar's global supremacy. He also said he hoped digital currencies such as China's digital yuan would not create unsurpassable competition for the dollar.

Trump joins a small but growing number of crypto projects that have come under fire for naming and branding rights.

The estate of Lord of the Rings author JRR Tolkien is targeting a cryptocurrency called JRR Token because it uses the author's name. On November 23 last year, the cryptocurrency was forced to shut down and remove any content that infringed on the heritage’s intellectual property rights.

Popular fast food restaurant Jack in the Box is also suing FTX for copyright infringement. The chain claims that FTX's "Moon Man" mascot copied its "Jack" mascot. The case was settled out of court on January 21.

Ripple Labs was sued in an Australian court last August for copying the name of an already existing nationwide payments service, PayID.

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