Author: Bright, Foresight News

At 0:42 on June 4, a major news story hit the crypto circle. According to the well-known financial account Walter Bloomberg, Trump will launch his brand of crypto wallet and trading application, encouraging his supporters to buy meme coins and other crypto assets.

Walter Bloomberg is a well-known financial account on X/Twitter, unrelated to Bloomberg News. However, most of its content is sourced from the Bloomberg Terminal, a paid subscription service launched by Bloomberg, where Walter Bloomberg relays news headlines from the terminal. Due to the timeliness and accuracy of Walter Bloomberg's past tweets, this news quickly spread.

Then at 1:35, Magic Eden posted another "solid proof." ME stated: "Breaking news! The official Trump wallet is about to launch! Join the free waitlist for a chance to share in the $TRUMP reward of $1 million!" It also made sure to clarify, "$TRUMP Wallet is Powered by Magic Eden."

The details on the official Trumpwallet.com website also specify that the wallet is provided by Magic Eden. It also states that the promotional event for registering the wallet, which offers 100,000 Trump tokens, is sponsored by Slingshot Finance.

Once the tweet was released, Magic Eden's native token ME surged by 40%. Within half an hour, the number of registrations for Trumpwallet exceeded 25,000, and by this morning, over 80,000 people had registered.

According to crypto KOLs, the wallet is currently in the registration phase and has no actual application. The growth mainly relies on invitations to attract new users. When registering for Trumpwallet, an email and phone number are required. Gmail does not receive the verification code, but surprisingly, email addresses from mainland China meet the requirements.

However, Trumpwallet cleverly hid the KYC terms in the inconspicuous "additional terms." Ultimately, only adult U.S. citizens can participate in the lottery, which quickly dampened the enthusiasm of those looking to take advantage.

Shortly after, at 2:18, Donald Trump Jr., co-founder of WLFI, clarified on X, stating, "The Trump Organization has no connection to this wallet product (developed in collaboration with Magic Eden and TRUMP Meme). Eric Trump and I know nothing about this. Stay tuned—World Liberty Financial, which we have been working hard to advance, will soon launch our official wallet."

Trump's second son also expressed, "This project is not authorized by the Trump Organization. If Magic Eden is using our name in an unapproved project, and no one in our organization knows about it, I would be very cautious."

Following the statements from Trump's sons, the price of the ME token retraced nearly 20%. In an instant, Trumpwallet became an awkward situation where the official Trump meme account and Magic Eden were promoting it, while the Trump family vehemently denied any connection. It appears that the Trump meme team is not aligned with Eric's team, leading Eric Trump, the crypto head of the Trump family, to quickly step in and clarify that Trumpwallet is not related to the Trump Organization. This also reflects the current chaotic management of various interest groups associated with President Trump, as everyone seems eager to leverage Trump's IP to get a piece of the crypto wave.

This morning, the official Trumpwallet account on X has been banned. Currently, registration on the Trumpwallet website is still available. Magic Eden's "breaking news" post has not been deleted, but it has been appended with the clarification from Trump's son.

However, the Trump family has not stopped their money-making rhythm. A June 4 SEC filing shows that Trump's social platform Truth Social has "diverted" to submit a Bitcoin ETF application. If a Trumpwallet recognized by the Trump family were to emerge, it would mean that the Trump family's involvement in the crypto space has become quite limited.

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