A crypto firm linked to US President Donald Trump and his family, World Liberty Financial (WLFI), has taken action against a digital wallet project using the Trump name without permission.
Bloomberg reported on June 5 that WLFI sent a cease-and-desist letter to Fight Fight Fight LLC, the group behind Gettrumpmemes.com and the Official Trump (TRUMP) meme coin.
The legal warning came after the launch of a waitlist for a crypto wallet called “TrumpWallet”, which was announced on June 3 by both the TRUMP token team and non-fungible token (NFT) platform Magic Eden.
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The wallet, which featured Trump’s name, was promoted through the social media platform X and a website that allowed users to sign up for early access.
Donald Trump Jr., who serves as WLFI’s “Web3 ambassador,” said the Trump Organization had nothing to do with TrumpWallet and was working on its own official release.
After news of the dispute broke, the TrumpWallet.com website went offline. However, social media posts from Magic Eden and Gettrumpmemes promoting the project were still up as of the report’s publication.
President Trump’s involvement in the crypto industry has already raised questions among lawmakers. WLFI recently launched a stablecoin called USD1 and has been promoting the Official Trump (TRUMP) token.
At a June 4 House Financial Services Committee hearing, lawmakers debated whether the CLARITY Act might allow the president to benefit personally from crypto regulations. What were their views? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
