The Trump Family’s Legal Battle Over Crypto Wallet Escalates
The controversy surrounding the Trump family and a newly launched crypto wallet is intensifying, with legal action now in motion.
Cease-and-Desist Letter Issued
World Liberty Financial (WLFI), the DeFi project endorsed by Donald Trump and his family, has sent a cease-and-desist letter to the creators of the contentious wallet associated with the president’s crypto brand, as reported by Bloomberg on June 5.
The letter was directed to Fight Fight Fight LLC, the company behind the Trump-themed memecoin issuer ‘GetTrumpMemes.’ Earlier this week, the firm announced the launch of the wallet in collaboration with crypto service provider Magic Eden.
Trump Family’s Denunciation
WLFI’s legal action comes after public denunciations by the president’s sons. On June 3, Eric Trump and Donald Trump Jr. took to social media to assert that the wallet was not endorsed by the family and criticized the project for using the Trump name without authorization.
“This project is not authorized by @Trump. The Trump Organization has zero involvement with this wallet product,” the brothers stated.
Following the cease-and-desist letter, the official website of the wallet, TrumpWallet.com, which was accepting sign-ups for a waitlist, has been taken offline. However, promotional content from GetTrumpMemes and Magic Eden still remains active on their social media channels.
Uncertainty Surrounding Trump Family’s Crypto Ventures
Interestingly, GetTrumpMemes had previously maintained a friendly relationship with the Trump family and was even present at an exclusive dinner hosted by the president for the top holders of his token. The memecoin’s official website also suggests that the company is affiliated with the Trump Organization, holding 80% ownership of the Trump cards supply.
The ongoing dispute adds another layer of uncertainty to the Trump family’s involvement in crypto projects, which has faced scrutiny from lawmakers and the public. While Donald Trump’s reputation as the “crypto president” has garnered him support within the industry, questions persist about the authenticity and value-driven nature of initiatives associated with his name.