Magic Eden, renowned for its non-fungible token (NFT) marketplace, has announced a partnership with the team behind the $TRUMP meme token to create an official cryptocurrency wallet branded with the former president’s name. The $TRUMP Wallet will allow users to trade $TRUMP alongside other digital assets, including Bitcoin. A waitlist for the wallet was launched on Tuesday at TrumpWallet.com, with a broader release expected later this summer, according to a spokesperson from Magic Eden.
Eric Trump, who has played significant roles in his father’s various crypto ventures, publicly stated his lack of knowledge about the wallet project. “I run @Trump and I know nothing about this project!” he expressed on the social media platform X. The announcement was also shared by the official TrumpMeme account, prompting further inquiries by CNBC.
Magic Eden has been approached for clarity regarding Eric Trump’s remarks, as well as for details about the partnership terms, potential revenue-sharing mechanisms, and whether the wallet will mandate know-your-customer (KYC) procedures. As of now, there has been no immediate response from the $TRUMP token team.
Marketed as “the first and only crypto wallet for true Trump fans,” the project offers incentives for sign-ups, including a chance to share in $1 million in $TRUMP rewards. Those who register and refer others can advance on the waitlist, according to Magic Eden’s statement. This gamified promotion is seen as part of efforts to bolster investment into Trump-related cryptocurrency projects, reflecting the former president’s increasing involvement in the digital asset market.
The Trump family’s expanding crypto portfolio already features NFTs, a stablecoin, and a decentralized finance platform with its own token, alongside various meme coins inspired by both Donald Trump and the First Lady. Moreover, plans are in motion for cryptocurrency exchange-traded funds through Truth Social’s new financial branch, TruthFi.
Magic Eden is reportedly constructing the wallet using Slingshot Finance, a self-custodial trading app it acquired in April. Slingshot provides a platform that features meme tokens like BONK and FARTCOIN, and it does not collect user identity information directly; rather, these checks are managed by its fiat on-ramp partner, MoonPay. However, it remains uncertain whether the $TRUMP Wallet will implement its own KYC processes and how responsibilities will be allocated between Magic Eden and Trump-affiliated entities.
As cryptocurrency continues to capture public interest, the launch of the $TRUMP Wallet underscores the growing intersection between politics and digital finance. With the potential to unite a dedicated fanbase around a digital currency, this initiative may drive further engagement in the rapidly evolving crypto landscape.
Original Source: https://www.cnbc.com/2025/06/03/trump-crypto-wallet-meme-coin.html
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Publish Date: 2025-06-04 01:50:00
