Trump Family Distances from Magic Eden Wallet

The launch of a Trump-branded crypto wallet has ignited confusion and controversy, prompting members of the Trump family to publicly distance themselves from the project.

On 3 June, NFT marketplace Magic Eden and the team behind the “Official Trump” (TRUMP) meme coin announced a collaboration to release “the Official $TRUMP Wallet,” complete with a referral campaign offering $1 million in TRUMP tokens and a waitlist for early access.

The wallet’s landing page branded it as “the first and only crypto wallet for true fans” of Donald Trump, listing Magic Eden and Slingshot Finance as partners.

Yet within hours, the Trump family pushed back.

Donald Trump Jr. stated unequivocally that the Trump Organisation had no involvement with the wallet and added that the family’s own crypto venture, World Liberty Financial, would soon launch its official product.

Eric Trump echoed the denial, cautioning Magic Eden against using the Trump name without authorisation and calling the project unfamiliar to anyone in their organisation.

Barron Trump also chimed in with his first-ever post on X (formerly known as Twitter), clarifying that the family has “zero involvement” with the initiative.

The situation escalated when the account @TrumpWalletApp on X was abruptly suspended, casting further doubt on the venture’s legitimacy.

Crypto researcher Molly White, who initially discovered the website, called the incident “absolute chaos” and speculated that the confusion points to deeper miscommunication among Trump-affiliated crypto entities.

Meanwhile, Magic Eden co-founder Jack Lu defended the wallet as a tool for enabling broader access to crypto, saying it would support popular assets like Bitcoin and Dogecoin and reflect the company’s effort to bring mainstream users into the space.

Magic Eden Doubles Down on Post Amidst Fears of Social Media Hack

Magic Eden reaffirmed its partnership with the Trump-themed wallet across several official channels, prompting speculation about whether the company’s social media accounts had been compromised.

Addressing the concerns, Magic Eden’s business lead Liz A—known online as “Voh”—clarified that the firm’s accounts were secure and that the announcement was authentic.

However, key technical specifics remain undisclosed.

Cole McMillian, known as “Papi,” who is the NFT marketplace’s head of community, told one user on Magic Eden’s Discord server:

“This is like… The most legal scrutiny we will ever have. So just need to be careful about responses.”

Neither Magic Eden nor its listed partner Slingshot has released details regarding wallet custody, supported blockchains, or any geographic limitations—leaving critical questions about the project’s infrastructure and compliance unanswered.

Specs of the Alleged Trump Wallet

The Trump Wallet’s main draw currently lies in its promotional tie-in with the TRUMP meme coin, offering users the chance to win token-based rewards. According to the wallet’s website, a $1 million TRUMP token giveaway, kicks off today and runs through 4 July.

Participants who refer at least one user by Independence Day will be entered into a raffle to win a grand prize of $100,000 in TRUMP tokens.

The referral system also introduces “TRUMP Boxes,” tiered reward packages that increase in value with more sign-ups.

For example, referring 100 people earns a user 100 entries toward a Diamond TRUMP Box, which could contain up to 200 TRUMP tokens—worth about $2,316 at current market rates.

The Trump Wallet app itself is powered by Slingshot, a mobile crypto trading platform acquired by Magic Eden in April, signalling a strategic pivot to diversify beyond its core NFT business.

A Magic Eden spokesperson said:

“We have historically worked with the TRUMP project to support their prior NFT launches and are excited that we’re working on a much larger project now with Trump Wallet.”

Inside the Fractured World of Trump’s Expanding Crypto Empire

The Trump Wallet website bills the product as the “Official $TRUMP Wallet by President Trump,” claiming that Magic Eden has partnered with GetTrumpMemes.com for the launch.

That site is owned by Fight Fight Fight LLC, a company co-owned by CIC Digital LLC—an entity affiliated with the Trump Organisation.

Together, these two firms control a majority share of the TRUMP token supply.

One key figure behind the effort is businessman Bill Zanker, listed in public filings for Fight Fight Fight LLC and a significant TRUMP token holder via CIC Digital.

Zanker is also tied to a growing roster of Trump-linked crypto ventures: he played a central role in launching the TRUMP meme coin, has helped develop Trump-branded NFT collections, and is currently building a crypto-enabled Monopoly-style game.

This is not the first time Trump-branded crypto ventures have sown confusion.

In May, Trump Media and Technology Group—the company behind Truth Social—initially denied a Financial Times report claiming it planned to raise $3 billion to invest in crypto assets.

The company reversed course just one day later, announcing a confirmed $2.5 billion raise: $1.5 billion through a stock sale and $1 billion in convertible bonds, earmarked for Bitcoin purchases.

The Trump sons’ reaction to the Trump Wallet announcement appears to reveal a growing split within the former president’s increasingly tangled crypto empire.

On one side stands Zanker, a longtime Trump ally and mastermind of the meme coin strategy.

On the other are Eric and Donald Trump Jr., who co-founded World Liberty Financial—a separate crypto venture that claims to have generated $550 million in token sales.

In text messages to The New York Times, Eric threatened legal action over the wallet’s release, asserting that it was unauthorised and promoted without consent—even though promotional posts had come from accounts linked to Zanker.

Eric wrote:

“There is no deal for this product. There is no agreement for this product. It has not been approved.”

The incident underscores the mounting friction within Trump’s overlapping digital currency ventures, where competing players now appear to be working at cross purposes under the same name.