Magic Eden and the "Trump Wallet": when Trump's crypto empire divides against itself

The crypto ecosystem surrounding Donald Trump has just experienced an embarrassing episode, to say the least. Magic Eden, a *renowned NFT platform*, announced the launch of an "official Trump Wallet" without the consent of the presidential family.

Eric Trump's reaction was immediate and unequivocal: "I would be extremely careful using our name in a project that hasn't been approved". This controversy reveals growing tensions within an increasingly fragmented Trump crypto empire.

On Tuesday afternoon, Magic Eden came as a surprise by announcing via its social media channels the imminent launch of the "official Trump Wallet". The platform promised Trump fans an exclusive crypto app, with the chance to win "$1 million in $TRUMP rewards".

The website trumpwallet.com proudly displayed visuals reminiscent of popular trading apps like Robinhood. (New York Times)

But the euphoria was short-lived. In a scathing tweet, Eric Trump made it clear that "this project is not authorized by @Trump" and that Magic Eden should "be very careful" using their name without permission. Donald Trump Jr. and even the youngest of the Trump sons, Barron, also distanced themselves from this project.

*This controversy highlights internal tensions within the Trump crypto ecosystem.*

On the one hand, Bill Zanker, architect of the $TRUMP memecoin and a long-standing partner of the president, appears to be collaborating with Magic Eden.

On the other, the Trump sons are developing World Liberty Financial, a competing project that also plans to launch its own wallet.

Jack Lu, CEO of Magic Eden, confirmed a collaboration with GetTrumpMemes.com, the origin of the Trump memecoin. However, this endorsement does not seem to be enough for the Trump family, who demand strict control over the use of their brand.

Eric Trump even threatened legal action, telling the New York Times that his family would take action against this unauthorised wallet.

This affair raises important questions about the commercial use of the Trump name in the crypto space.

Since the election, no fewer than *four different crypto projects revolve around the Trump brand*: American Bitcoin, $TRUMP, World Liberty Financial and Trump Media & Technology Group.

This proliferation of initiatives creates dangerous confusion for investors.

The timing of this controversy is particularly delicate. The $TRUMP memecoin, launched shortly before the presidential inauguration, has *generated billions of dollars in market capitalisation*, with the Trump family and its associates controlling 80% of the total supply. Any controversy surrounding the brand could affect investor confidence in these projects.

Eric Trump's swift and firm reaction shows that the family intends to maintain strict control over the use of their name. In a crypto sector already marked by scams and dubious projects, this vigilance could be welcome, even if it reveals growing tensions within their own business ecosystem.