Trump Wallet Sparks Political Firestorm

Magic Eden’s Trump Wallet Faces Immediate Backlash

Magic Eden’s surprise announcement of a Trump-themed crypto wallet has detonated into a branding war. The NFT marketplace revealed it was working with the $TRUMP meme coin team to launch the “Official $TRUMP Wallet,” but the move was publicly slammed by Trump family members within hours.

The wallet, promoted on TrumpWallet.com, offered users $TRUMP trading, support for Bitcoin, and a $1 million prize pool. Yet despite the campaign being reshared by the TrumpMeme account, the backlash from the Trump family was immediate and forceful.

Eric and Don Jr.'s Reaction

Eric Trump took to X to completely disown the wallet project, writing: 

He also warned Magic Eden about using the Trump name without formal permission—raising potential legal red flags over trademark use.

His brother, Donald Trump Jr., joined the denial, stating the family is developing a separate wallet through World Liberty Financial, an arm more directly tied to the Trump media ecosystem.

Meme Coins, Politics, and Opportunism Collide

While Magic Eden billed the wallet as a move to drive mass crypto adoption, critics say it highlights the blurry line between parody and official affiliation. The wallet is built on Slingshot Finance, a self-custody app acquired by Magic Eden in April, and uses MoonPay for fiat on-ramps.

Still, there are serious questions about:

• Whether the wallet meets KYC/AML compliance

• How revenue and liability are divided

• Who actually greenlit the “Official” branding

The situation shows how crypto projects tied to major public figures can rapidly spiral into controversy—especially when the figure's brand is political gold.

Trump World’s Expanding Crypto Footprint

This isn’t Trump’s first brush with blockchain:

• A Bitcoin mining venture launched in 2024

• A $2.5B Bitcoin treasury plan was announced in May

• Multiple NFT collections and events (including a black-tie dinner for top $TRUMP holders)

• An upcoming Trump Coin Wallet teased by TruthFi, the financial arm of Truth Social

• A newly filed spot Bitcoin ETF under the Truth Social banner

The irony? Trump was once a crypto skeptic. Now, his name is everywhere in the space, even when he’s not involved.

Will the “Trump Wallet” Survive the Fallout?

While Magic Eden may have had good intentions—or at least good marketing instincts—the lack of direct Trump family approval has likely derailed the rollout. With legal threats looming and the wallet account suspended, it’s unclear whether the product will move forward in its current form. The bigger takeaway? Crypto branding tied to politics is risky territory. In the age of meme coins and mass adoption, public figures want control—and plausible deniability.