Eric Trump Denies Ties to TRUMP Wallet Amid Rising Crypto Controversy

Highlights:

• The Trump family has denied all ties to the TRUMP Wallet project promoted by Magic Eden.
• The Trump family noted that they had no knowledge of the project and warned others not to use the Trump name without permission
• The backing of some leaders tied to other Trump crypto projects causes confusion about the TRUMP Wallet’s legitimacy.

Eric Trump has warned of legal action after a website announced the launch of the “Official $TRUMP Wallet,” according to The New York Times. The site claimed it partnered with Magic Eden and GetTrumpMemes.com to release the wallet. It also promoted a $1 million prize in TRUMP token rewards for early supporters. Although Magic Eden confirmed the partnership on its X account, the Trump family quickly denied involvement.

This project is not authorized by @Trump. @MagicEden I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization. https://t.co/OovJGvGOkO

— Eric Trump (@EricTrump) June 3, 2025

Donald Trump Jr. indicated that the Trump Organization is working together with World Liberty Financial to launch a wallet. However, he made it clear that this wallet has no connection with the one launched by Magic Eden. Eric Trump also posted on X, saying he had no knowledge of the project and warned others not to use the Trump name without permission. Barron Trump later echoed the same message, adding that their family has no connection to the wallet. The strong public response from the Trump sons caused confusion among supporters.

To be clear, our family has zero involvement with this wallet. https://t.co/5NE6cZZQlO

— Barron X Spaces (@BarronXSpaces) June 3, 2025

Ownership Ties and Branding Spark Trump Wallet Confusion

Although the Trump family denied involvement, several connections added to the confusion. GetTrumpMemes.com was utilized for the wallet promotion, and it belongs to Fight Fight Fight LLC. That company is co-owned by CIC Digital LLC, which is directly linked to the Trump Organization. CIC Digital also holds a significant portion of TRUMP tokens, creating more uncertainty.

Bill Zanker, an associate of Trump, headed the project and had previously worked on Trump’s NFT collections. He is also closely linked to the group responsible for the new wallet. These links made it difficult for many to believe the Trump family had no involvement.

Magic Eden has not come out to clarify its position on the matter. Not long after the launch, the X account @TrumpWalletApp was suspended. According to the reports, the wallet was built with Slingshot Finance, which was recently purchased by Magic Eden in April. Even though the wallet uses MoonPay to confirm identity, it does not share details about its security or a clear plan for future development.

Crypto Moves Raise Concerns Over Transparency and Messaging

Even though the Trump family has distanced itself from TRUMP Wallet, it is still involved in other crypto projects. Donald Trump Jr. confirmed that the family is building a wallet through World Liberty Financial. That project launched a governance token and a stablecoin called USD1. The team behind it also plans to create a full crypto ecosystem with asset-backed features.

Eric Trump and Donald Trump Jr. also support American Bitcoin, a mining company that aligns with their crypto efforts. In addition, Trump Media & Technology Group has filed to launch a Bitcoin ETF through its Truth.Fi arm. These moves show the family’s broader interest in crypto, even though they denied links to the TRUMP Wallet.

At the same time, the TRUMP token project, led by Zanker, released tokens named TRUMP and MELANIA. It also plans to introduce a Monopoly-style game using crypto themes. As the project uses the Trump name, the mixed messages have created confusion among users. The silence from Magic Eden has only added to doubts about the wallet’s credibility.