Trump Family Issues Cease-and-Desist Over Unauthorized Crypto Wallet

- World Liberty Financial takes legal action against Fight Fight Fight LLC. - Trump family publicly distances itself from the unauthorized wallet project. On June 5, 2025, Bloomberg reported that World Liberty Financial, backed by the Trump family, sent a cease-and-desist letter to Fight Fight Fight LLC concerning an unauthorized Trump-branded cryptocurrency wallet. WLFI also directed the letter at Magic Eden, an NFT marketplace and crypto infrastructure company that had partnered with Fight Fight Fight to create the wallet. This development occurred shortly after Magic Eden and the TRUMP memecoin team announced a waitlist for a crypto wallet featuring Trump's name. On June 3, 2025, Donald Trump Jr., in his capacity as a 'Web3 ambassador' for World Liberty Financial, publicly stated, "The Trump Organization has zero involvement with this wallet product." He also announced World Liberty Financial's plans, confirming it intends to launch an "official wallet soon." On the same day, Eric Trump also publicly distanced himself and their family from the Fight Fight Fight and Magic Eden project, and specifically cautioned Magic Eden, stating, "be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization." Barron Trump also publicly distanced himself and their family from the project. After news of the cease-and-desist letter emerged, the TrumpWallet.com website, which had featured a sign-up waitlist, went offline. Additionally, Twitter suspended the @TrumpWalletApp account, which, according to reports, Magic Eden had previously verified. World Liberty Financial is reportedly the Trump family's first significant move into crypto; the firm previously introduced its USD1 stablecoin. Further reports indicate the firm is developing its own digital wallet, which will offer features such as yield generation on tokens and will directly compete with the Fight Fight Fight wallet. Meanwhile, Fight Fight Fight launched the TRUMP memecoin, which has reportedly generated significant fees for its owners. This series of events highlights a growing conflict and confusion surrounding the various crypto ventures associated with the Trump name and family. For instance, some reports suggest the ME Token, associated with Magic Eden, experienced a significant price drop following the backlash from the Trump family and the issuance of the cease-and-desist order. Market data on June 5, at 22:08 UTC, showed the official TRUMP (TRUMP) memecoin trading at $9.787, with its 24-hour trading volume having decreased by 9.808%. The same data indicated World Liberty Financial USD (USD1) was trading at $1, and its 24-hour trading volume had decreased by 0.009%.