Donald Trump-themed crypto wallet was rolled out to all of the Web3 dwellers on Magic Eden, a popular non-fungible token (NFT) platform. The NFT industry veteran announced “the first and only crypto wallet for true Trump fans”, adding that there’s a $1 million sweepstakes prize for anyone joining the free waiting list.
What’s Off With The $1M TRUMP Crypto Wallet Launch
However, there’s a very uncanny issue with Magic Eden’s supposed collaboration with Donald Trump & his meme coin team. In fact, Donald Trump & his sons claim the partnership never happened, going as far as to say “The Trump family has zero involvement with this wallet”. This was by Barron, Eric & Donald Jr. Trumps.
While Barron’s answer was straightforward, Donald Trump Jr. took the opportunity to promote World Liberty Financial (WLFI). The officially-owned platform is working on a series of chain advancements, including their own stablecoin and a self-custodial crypto wallet, naturally clashing with Magic Eden’s Trump knock-off wallet.
TRUMP Coin Dips 13%, But There’s Still More Downside
Magic Eden’s stunt on Donald Trump didn’t have a long-term impact on the price of Trump coin in any significant way. At present, the United States President’s signature meme coin continues to trade just above $10.88, slightly bouncing off the $10.71 low-tier Bollinger Band (BOLL). Now, $11.10 remains the intra-day target for TRUMP.
Most notably, TRUMP coin broke through the high-tier Bollinger Band, portrayed in red color on June 3, 2025. When Magic Eden the Trump crypto wallet announcement, the 4th largest meme coin by market cap briefly took an upswing to $11.50, but couldn’t keep up with fierce competition in the meme coin field.
On The Flipside
- The legitimacy of this Trump-styled crypto wallet is questioned by digital art fans and top crypto community voices, with calling the act a “clown show”.
- Magic Eden is yet to comment on the Trump family’s disavowal, despite many NFT enthusiasts publicly asking for clarification on the Trump-branded campaign.
Why This Matters
Direct politician involvement in crypto can bring both opportunities and challenges to the crypto industry. On the other hand, unauthorized branding often evolves into copyright infringement cases or other intellectual property (IP) related setbacks.
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Magic Eden announced a $TRUMP crypto wallet, but Trump’s sons, Eric and Donald Jr., denied any family involvement.
It’s designed to store and trade $TRUMP tokens, Bitcoin, and other digital assets securely.
The price fell after Trump’s sons publicly denied involvement, creating confusion and shaking investor confidence.
Despite Magic Eden’s claims, Eric and Donald Jr. stated the Trump Organization has no connection to the project.
The controversy and unclear Trump involvement make it risky; research thoroughly before investing.
