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 โthe first and only crypto wallet for true Trump fansโ, adding that thereโs a $1 million sweepstakes prize for anyone joining the free waiting list.
Whatโs Off With The $1M TRUMP Crypto Wallet Launch
However, thereโs a very uncanny issue with Magic Edenโs 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 โThe Trump family has zero involvement with this walletโ. This was confirmed by Barron, Eric & Donald Jr. Trumps.
While Barronโs 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 Edenโs Trump knock-off wallet.
TRUMP Coin Dips 13%, But Thereโs Still More Downside
Magic Edenโs stunt on Donald Trump didnโt have a long-term impact on the price of Trump coin in any significant way. At present, the United States Presidentโs 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 made the Trump crypto wallet announcement, the 4th largest meme coin by market cap briefly took an upswing to $11.50, but couldnโt 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 some calling the act a โclown showโ.
- Magic Eden is yet to comment on the Trump familyโs 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 Trumpโs sons, Eric and Donald Jr., denied any family involvement.
Itโs designed to store and trade $TRUMP tokens, Bitcoin, and other digital assets securely.
The price fell after Trumpโs sons publicly denied involvement, creating confusion and shaking investor confidence.
Despite Magic Edenโs 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.
