{"id":10466,"date":"2025-06-04T00:17:24","date_gmt":"2025-06-04T00:17:24","guid":{"rendered":"https:\/\/firearmman.com\/?p=10466"},"modified":"2025-06-04T00:17:26","modified_gmt":"2025-06-04T00:17:26","slug":"trumps-sons-distance-themselves-from-new-trump-branded-crypto-venture","status":"publish","type":"post","link":"https:\/\/firearmman.com\/?p=10466","title":{"rendered":"Trump’s sons distance themselves from new Trump-branded crypto venture"},"content":{"rendered":"
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A digital asset company has collaborated with the firm behind President Donald Trump’s $TRUMP meme coin<\/a> to launch what it’s calling the “Official $TRUMP Wallet” — but the president’s sons, who run Trump’s crypto businesses, say they have no involvement with the offering.<\/p>\n

In a post on X Tuesday, Jack Lu, the CEO of a digital asset marketplace called Magic Eden, said his firm had collaborated with GetTrumpMemes — the firm behind the $TRUMP meme coin — on $TRUMP Wallet, a digital app that allows users to conduct financial transactions. Lu said the venture would allow users to trade the $TRUMP coin and other cryptocurrencies.<\/p>\n

But within hours, Eric Trump wrote on social media that “I run @Trump and I know nothing about this project!”<\/p>\n

Donald Trump Jr. added that he “has zero involvement with this wallet product,” and teased plans for a separate digital asset wallet under a different Trump-affiliated crypto firm, World Liberty Financial<\/a>.<\/p>\n

Despite those disavowals, the $TRUMP Wallet that launched Tuesday claimed to be the “First and Only Crypto Wallet for True Trump Fans.”<\/p>\n

“Our partnership with the $TRUMP team to build @TrumpWalletApp represents our commitment to onboarding mainstream audience deeper into crypto,” Lu wrote on X.<\/p>\n

ABC News has reached out to Magic Eden for clarification on the venture.<\/p>\n

As of Tuesday afternoon, X — the social media company run by Trump ally Elon Musk — had suspended the account for @TrumpWalletApp. It was not immediately clear why the account was removed.<\/p>\n

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President Donald Trump gestures, as he departs for Pennsylvania, on the South Lawn of the White House in Washington, May 30, 2025.<\/span><\/span><\/span><\/p>\n

Kent Nishimura\/Reuters<\/span><\/p>\n<\/div>\n<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n

The $TRUMP Wallet website contains little information about the platform itself, but invites visitors to sign up for a waitlist ahead of a formal launch at some later date. Joining the waitlist also allows users to enter a sweepstakes for a share of $1 million worth of $TRUMP rewards.<\/p>\n

Once a crypto skeptic, Trump and his family have fully immersed themselves in the cryptocurrency marketplace in recent months, developing not only the $TRUMP meme coin — a type of digital currency that’s often based on an internet meme — but also a bitcoin mining firm, a stablecoin firm, and a crypto reserve.<\/p>\n

Last month Trump held a black tie event<\/a> for the winners of a contest that awarded invitations to the top investors in his $TRUMP coin — with at least some of the funds flowing directly into the Trump family’s coffers.<\/p>\n

Critics have raised concerns<\/a> about the Trump administration’s regulatory role over cryptocurrencies while the president stands to personally benefit from cryptocurrency ventures.<\/p>\n

Asked Tuesday about the potential conflicts of interest in the Trump family’s nascent crypto empire, Donald Trump Jr. said on CNBC that the family “got into [crypto] out of necessity,” claiming the Trump family had been “de-banked.”<\/p>\n

“We got into politics and all of a sudden [the banks] wouldn’t take our call,” he said. “We went all in on a concept that makes total sense because we’d actually been the recipients of how quickly that can be shut off.”<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A digital asset company has collaborated with the firm behind President Donald Trump’s $TRUMP meme coin to launch what it’s calling the “Official $TRUMP Wallet” — but the president’s sons, who run Trump’s crypto businesses, say they have no involvement with the offering. In a post on X Tuesday, Jack Lu, the CEO of a […]<\/p>\n","protected":false},"author":1,"featured_media":10467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-10466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-news"],"_links":{"self":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/10466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10466"}],"version-history":[{"count":1,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/10466\/revisions"}],"predecessor-version":[{"id":10468,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/10466\/revisions\/10468"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/media\/10467"}],"wp:attachment":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}