EscalatingWallet Dispute Involving Trump's Family Moves Towards Legal Resolution
The sizzling saga surrounding the Trump family and a fresh crypto wallet is causing a stir, with legal actions now underway.
World Liberty Financial (WLFI), the DeFi venture backed by Donald Trump and his kin, has served a cease-and-desist order to the creators of a contentious wallet linked to President Trump's crypto brand, as reported by Bloomberg on June 5.
The order was directed towards Fight Fight Fight LLC, the firm behind the Trump-inspired memecoin issuer 'GetTrumpMemes.' Earlier this week, the company announced the wallet launch in collaboration with crypto service provider Magic Eden.
WLFI's legal action follows a series of public dismissals by the president's sons. On June 3, both Eric Trump and Donald Trump Jr. took to X (formerly Twitter), stating that the wallet was not endorsed by the family and calling out the project's use of the Trump name without authorization.
"This project is not authorized by @Trump. The Trump Organization has zero involvement with this wallet product," the brothers wrote.
Following the cease-and-desist, the wallet's official website, TrumpWallet.com, which had been accepting sign-ups for a waitlist, is now offline. However, promotional content from both GetTrumpMemes and Magic Eden remains live on their respective social media accounts.
In a striking twist, Gettrumpmemes had Previously enjoyed a cordial relationship with the Trump family and was even present at the recent exclusive dinner hosted by the president for his token's top holders. The official memecoin website also suggests the firm may have been an affiliate of the Trump Organization, sharing ownership of 80% of the Trump cards supply.
The ongoing disagreement adds another layer of ambiguity to the Trump family's involvement in crypto ventures, which has already faced scrutiny from lawmakers and the public. While Donald Trump's "crypto president" image has drawn industry popularity, doubts linger about the authenticity of many initiatives bearing his name, with concerns they may merely serve profit-driven purposes.
As it stands, no fresh Trump-linked memecoin or wallet project has emerged following the cease-and-desist action from WLFI. Efforts to launch unauthorized Trump-themed memecoins or wallets would likely face prompt legal intervention from WLFI.
- The Trump family's crypto venture, World Liberty Financial (WLFI), has issued a cease-and-desist order to Fight Fight Fight LLC, the creators of the memecoin issuer 'GetTrumpMemes'.
- WLFI's legal action was prompted by the launch of a Trump-inspired wallet in collaboration with Magic Eden, which was not endorsed by the Trump family.
- The Trump brothers, Eric Trump and Donald Trump Jr., previously dismissed the wallet on their X accounts, stating it was not authorized by them.
- Following the cease-and-desist, the wallet's official website, TrumpWallet.com, is now offline.
- GetTrumpMemes had originally enjoyed a cordial relationship with the Trump family, even attending an exclusive dinner hosted by the president for his token's top holders.
- The ongoing disagreement adds to the scrutiny faced by the Trump family's crypto ventures, questioning the authenticity of many initiatives bearing the Trump name.
- Unauthorized Trump-themed memecoins or wallets would likely face prompt legal intervention from WLFI, as no new Trump-linked projects have emerged since the action.
