Author: Bright, Foresight News
At 0:42 AM on June 4th, a bombshell news broke in the crypto circle. According to the well-known financial account Walter Bloomberg, Trump will launch his branded 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. However, its content mainly comes from the Bloomberg Terminal, a paid subscription service by Bloomberg, which Walter Bloomberg relays news headlines from. Due to the timeliness and accuracy of Walter Bloomberg's previous tweets, the message spread quickly.
At 1:35 AM, Magic Eden posted another "confirmation". ME stated: "Big news! Official Trump Wallet coming soon! Join the free waitlist for a chance to share $1 million in $TRUMP rewards!" While also emphasizing their identity, "$TRUMP Wallet is Powered by Magic Eden."
The details on the Trumpwallet.com website also specify that the wallet is serviced by Magic Eden. It also mentions that the wallet registration promotion drawing 100,000 Trump tokens is sponsored by Slingshot Finance.
After the tweet was posted, Magic Eden's native token ME rose by 40%. Within half an hour, Trumpwallet registrations exceeded 25,000, and by morning, over 80,000 had registered.
According to crypto KOLs, the wallet is currently in the registration phase with no actual application. Its viral growth mainly relies on invitations. Registering for Trumpwallet requires email and phone number, with Gmail unable to receive verification codes, but surprisingly, mainland Chinese emails meet the requirements.
However, Trumpwallet cunningly hid the KYC terms in an inconspicuous "additional terms" section. In the end, only US adult citizens can participate in the lottery, which quickly dampened the enthusiasm of the airdrop hunters.
At 2:18 AM, Trump's eldest son, WLFI co-founder Donald Trump Jr., posted on X to clarify that "the Trump Organization has no association with 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 subsequently stated: "This project is not authorized by the Trump Organization. I will be very careful if MagicEden uses our name in an unauthorized project that none of our organization knows about."
After Trump's eldest and second sons' statements, the ME token price dropped nearly 20%. Trumpwallet suddenly became an awkward situation where the Trump meme official account and Magic Eden were pushing hard, while the Trump family firmly denied any connection. It seems the Trump meme team is not the same group as Eric's team, causing Eric Trump, the crypto lead of the Trump Organization, to immediately jump out and clarify that this Trumpwallet has nothing to do with the Trump Organization. This also reflects the current chaotic management of various interest groups associated with President Trump, with everyone wanting to leverage Trump's IP and grab a piece of the crypto wave.
This morning, the Trumpwallet's X official account has been banned. Currently, the Trumpwalle website can still continue registration. Magic Eden's "big news" post also remains, but now includes a clarification post from Trump's eldest son.
However, the Trump family hasn't stopped their money-making pace. The SEC filing on June 4th shows that Trump's social platform Truth Social "neglecting its main business" submitted a Bitcoin ETF application. If a Trump family-approved Trumpwallet really emerges, it would mean that the Trump family has few untouched businesses in the crypto realm.
