Trump-Branded Crypto Wallet Project Suspended Amid Internal Dispute, Says Eric Trump
The official Donald Trump meme coin project has abandoned its plans to introduce a Trump-branded cryptocurrency wallet. The announcement was made by Eric Trump following a conflict within the World Liberty Financial project, which is managed by the president’s sons.
What Happened: The Trump crypto wallet project (CRYPTO: TRUMP), which was unveiled earlier this week, has been temporarily halted. Eric Trump made the announcement on Friday, assuring that despite the setback, the team is still committed to the development of the TRUMP meme coin.
Eric Trump further disclosed that World Liberty Financial intends to secure a substantial stake in TRUMP for their long-term treasury, highlighting their collective vision for cryptocurrency, patriotism, and long-term prosperity.
In a post on X, Eric Trump said, “I am proud to announce the TRUMP meme coin has aligned with [World Liberty Financial].”
However, the announcement of the wallet was met with public opposition from Trump’s sons, who denied any association with the wallet product, leading to uncertainty about the project’s future.
Following this, World Liberty Financial issued a cease and desist order to the GetTrumpMemes team on Thursday, resulting in the wallet’s website going offline.
The Trump family’s foray into the cryptocurrency industry has been met with skepticism. Despite the controversy, the Trump administration has refuted the allegations.
The family’s crypto ventures have substantially augmented President Trump’s wealth, accounting for nearly 40% of his net worth, or roughly $2.9 billion.
Why It Matters: The suspension of the Trump crypto wallet project underscores the ongoing internal disagreements within the World Liberty Financial project.
The public opposition from Trump’s sons towards the wallet product, coupled with the cease and desist order issued to the GetTrumpMemes team, has cast a shadow over the future of the project.
Despite the controversy, the Trump family’s involvement in the crypto industry has significantly boosted President Trump’s wealth, indicating the potential profitability of such ventures.
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