TrumpCoin RISES – But Who’s Really Behind It?

Former President Donald Trump ventures into cryptocurrency with a new digital wallet featuring a $1 million token giveaway, but confusion erupts as his son denies knowledge of the project.

At a Glance

  • Donald Trump is partnering with Magic Eden to launch a branded cryptocurrency wallet supporting $TRUMP tokens and other digital assets
  • The wallet launch includes a $1 million $TRUMP token airdrop as an incentive for sign-ups and referrals
  • A waitlist has opened at TrumpWallet.com with a full launch planned for later this summer
  • Eric Trump has claimed no knowledge of the project despite the official TrumpMeme account promoting it
  • The venture expands the Trump family’s growing portfolio of crypto-related businesses

Trump’s Latest Crypto Venture Launches Amid Confusion

Magic Eden, a prominent Solana-based NFT marketplace, has announced a partnership with the team behind President Donald Trump’s meme token to launch a $TRUMP-branded cryptocurrency wallet. The digital wallet will feature Trump’s name and likeness while supporting trading of $TRUMP tokens, bitcoin, and other digital assets. A waitlist for interested users has already opened at TrumpWallet.com, with plans for a broader launch later this summer.

The wallet is being marketed as “the first and only crypto wallet for true Trump fans” and comes with a significant incentive: a $1 million $TRUMP token rewards program for users who sign up and refer others. However, the announcement has sparked controversy after Eric Trump, who has been involved in his father’s previous crypto ventures, claimed to have no knowledge of the project, creating confusion about its official status.

Technical Infrastructure and Partnership Details

The Trump wallet is being built on Slingshot Finance, a self-custodial trading application acquired by Magic Eden. Slingshot currently features various meme tokens and uses MoonPay for identity verification. Magic Eden itself has substantial backing in the crypto industry, having raised over $150 million from investors including Paradigm, Greylock, Lightspeed Venture Partners, and Sequoia between March and June 2022.

Despite the public announcement, many details about the partnership remain unclear. CNBC has sought clarification on the partnership terms, revenue-sharing arrangements, and whether know-your-customer (KYC) requirements will be implemented, but has received no immediate response. Similarly, it remains uncertain how responsibilities and revenue will be divided between Magic Eden and Trump-affiliated entities.

Expanding Trump’s Crypto Empire

This wallet launch represents the latest addition to an expanding portfolio of Trump-affiliated crypto ventures. The Trump family’s digital asset initiatives now include NFTs, a stablecoin, a decentralized finance platform, meme coins, and plans for crypto ETFs through a platform called TruthFi. The new wallet appears designed to increase inflows into these Trump-affiliated crypto ventures while further cementing the family’s presence in the digital asset industry.

The mixed signals coming from the Trump camp highlight the sometimes chaotic nature of celebrity-endorsed crypto projects. While the official TrumpMeme X account reposted the wallet announcement, Eric Trump’s public denial raises questions about internal communication and official endorsement. Magic Eden has not commented further on Eric Trump’s statements, leaving potential users uncertain about the project’s authenticity as the waitlist continues to accept sign-ups.

 

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