Crypto journalist Molly White early this morning posted on the social media platform X, indicating that former U.S. President Trump is about to launch his branded cryptocurrency wallet and trading application called "$TRUMP Wallet", encouraging his supporters to purchase Trump-branded $TRUMP meme coins and other cryptocurrency assets:
Exclusive news: Trump will launch a branded cryptocurrency wallet and trading application, encouraging his supporters to buy his meme coin and other cryptocurrency assets.
Collaboration with Magic Eden
Molly White further pointed out in a more detailed report that the "$TRUMP Wallet" is highly related to the $TRUMP meme coin issued before Trump's inauguration, aimed at attracting Trump's fans to actively trade $TRUMP meme coins and other mainstream cryptocurrencies like Bitcoin.
The project is collaborating with cryptocurrency company Magic Eden. Although Trump's team and Magic Eden have not yet officially announced, on June 3rd, a web application with the domain TrumpWallet.com went online, opening user registration for a waiting list, suggesting an imminent official announcement. The website also links to a Twitter (now X) account registered in May, indicating the project has been in preparation for some time.
To attract users, the website banner calls for "1 Million Dollars TRUMP Rewards!" promising registered users can participate in a promotion to win "Trump Boxes" containing 1 to 50 $TRUMP meme coins, distributed based on a referral program. Additionally, there's a random draw for waiting list participants, with a grand prize of $TRUMP tokens worth $100,000. The website terms show the draw runs from June 3rd to July 4th.
According to Decrypt's report, a Magic Eden spokesperson has confirmed the website's legitimacy and collaboration with Trump's business partners, stating:
We have previously collaborated with the TRUMP project, supporting its NFT issuance, and are now excited to collaborate on the Trump Wallet for a larger project.
Magic Eden Token Surges
Motivated by this news, Magic Eden's $ME token surged significantly. According to CoinGecko data, the ME token rose 39.1% in the past 24 hours, currently trading at $1.15 with a market cap of around $172 million.
Magic Eden, an NFT trading platform founded in 2021, has received approximately $150 million in venture capital from investors including Paradigm, Sequoia, Coinbase Ventures, and Electric Capital. Recently, the company expanded into broader digital asset trading by acquiring the decentralized finance (DeFi) trading application Slingshot Finance. Magic Eden launched its own token $ME in August 2024.
