Trump Family Denies Involvement with Magic Eden-Powered $TRUMP Wallet

The Trump Family loomed large over the announcement of the upcoming $TRUMP crypto wallet, denying all involvement with the product, despite the shared name.

Magic Eden, the team powering the wallet, has suffered fierce criticism from the Solana community over the event. 

If the Trump family has nothing to do with the $TRUMP wallet, who’s really pulling the strings behind the “Crypto President’s” memecoin?

$TRUMP Memecoin Announces Wallet

On June 3, Magic Eden and the $TRUMP memecoin unveiled a new product aimed at bringing the masses onchain. After launching one of the world’s biggest memecoins, and inadvertently punctuating a local market top, GetTrumpMemes invited fans to join the waitlist and get excited about an upcoming wallet app.

With regulatory clarity evolving in the U.S., Magic Eden founder Jack Lu argues that there’s never been a better time to “take big bets” and “onboard mainstream” users. As part of the rollout, Magic Eden and the $TRUMP wallet are promising up to $1M in rewards.

Trump Family Unaware of Supposed Collaboration

However, the $TRUMP wallet’s quest for mainstream domination has run aground before it even started. Within an hour of GetTrumpMemes and Magic Eden announcing the wallet, the Trump Family denied all involvement with the project.

Eric Trump’s own project, World Liberty Financial, is slated to launch its own wallet in the near future. Since the Trump Family’s denouncing of the $TRUMP wallet, the project’s official domain is now inaccessible, and the TrumpWalletApp 𝕏 account has been suspended.

 

With tensions between $TRUMP and the Trump Family escalating, network participants have questioned Magic Eden’s credibility. Social media commentators have claimed that we’ve not heard the end of this saga, speculating that Magic Eden could face a future lawsuit at the hands of the Trump Family.

Meanwhile, the Solana community was left scratching their heads, trying to figure out whether the partnership was legitimate. Concern and scepticism were rife in the Magic Eden Discord server, with many users fearful that Magic Eden accounts had been hacked.

After the initial confusion wore off, it became clear that Magic Eden’s partnership is with the $TRUMP memecoin, not directly with the Trump Family. However, this distinction asks more questions than it answers. 

If the Trump Family truly has no involvement with the $TRUMP memecoin, who is running the memecoin project bearing the U.S. President’s name and likeness?

The Trump Family’s distance and separation from the $TRUMP memecoin explain the President’s reportedly disappointing ‘Crypto Dinner’. 

$ME Up 20%

Despite the carnage on social media, Magic Eden’s native token, $ME, has held up remarkably well. 

After initially surging 36% upon the announcement of the collaboration, $ME has since dropped back ~13% to currently exchange hands at $1.03. At press time, $ME is up 20% in the past 24 hour, indicating that traders are optimistic about the partnership in spite of the confusion.

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