Molly WhiteSCOOP: Trump to launch branded crypto wallet and trading application, encouraging his supporters to purchase his memecoin and other crypto assets.
Though the project has yet to be announced by either the Trump team or Magic Eden, a waitlist signup was briefly visible on the TrumpWallet.com domain, suggesting launch is imminent. Terms of the partnership, including which Trump entities are involved, are not disclosed.
A Trump crypto wallet is only the latest in a long and ever growing list of Trump crypto ventures, which have raised alarms among ethics watchdogs, members of Congress, and even some of Trump’s crypto world fans.
Details about the app are scarce, but it’s likely to rely on similar technology to the crypto trading app Slingshot, which was acquired by Magic Eden in April.
Magic Eden and Trump have some history prior to this deal, with several executives attending his memecoin dinner in late May, and a partnership pertaining to Trump NFTs last year.
The deal raises additional regulatory questions, especially as decentralized finance apps are being explicitly carved out from regulatory oversight by Trump-championed crypto bills being considered in Congress as we speak.
Magic Eden and spokespeople for President Trump did not immediately respond to inquiries about the project.
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UPDATE: Since I published, the waitlist website has added a segment reading “Magic Eden partnered with GetTrumpMemes.com to create the first and only $TRUMP Wallet”. This suggests it is indeed Fight Fight Fight LLC (Bill Zanker) behind it.
Official announcement has come out from Magic Eden. No promotion yet from Trump’s end.
Something seems to have gone very wrong with this launch. The different organizations running Trump’s litany of crypto projects operate somewhat independently, but it’s not clear exactly where things broke down here.
Spitefully Optimistic@molly0xfff Strump. Feels like an older word for something pejorative 😃