President's sons are not involved in new move on crypto meme coin $TRUMP
Magic Eden launched the official $Trump wallet, but Eric and Donald Jr. denied been part of these new app
Official $Trump Wallet was launched by Magic Eden, the asset company that helped President Donald Trump enter the Crypto World. Jack Lu, CEO of the company, posted on his X account about the new app. This will help users conduct financial transactions between $Trump, the President's meme coin, and other cryptocurrencies.
However, within hours, Eric and Donald Jr., the president's sons, denied any link between themselves, the heads of World Liberty Financial, and the wallet proposed by Lu. Despite being skeptics, Trump and his family have fully immersed themselves in the crypto marketplace.
What happened with the "official" wallet?
The @TrumpWalletApp account on X was launched, despite the sons' denial. Lu wrote that "Our partnership with the $TRUMP team to build @TrumpWalletApp represents our commitment to onboarding the mainstream audience deeper into crypto."
However, the account was removed on Tuesday afternoon, and it is not clear why this happened. Lu did not post anything about the closure. However, Donald Trump Jr. admitted that they are currently working on a crypto wallet themselves.
Jack Lu posted on X that they are launching $Trump official wallet, but the account linked was banned of the social media. Photo: GLR Composition / X
What is the problem around $TRUMP?
There are several controversies surrounding this meme coin. Most of them concern Trump's administration regulatory role over cryptocurrencies, while the president himself is benefiting from this business. Despite the critics, the president's family said that they had been "de-banked."
Last month, Trump held an important event for $TRUMP investors. Some selected winners went to a black-tie event at Trump's golf club in Virginia. One year later, the attendees went on an unofficial visit to the White House. Lu was invited, as were Caitlin Sinclair and Lamar Odom.
