Fight Fight Fight developed a digital wallet named $TRUMP Wallet for the Trump-themed memecoin, allowing users to store and trade the memecoin. However, after the project was publicly announced, World Liberty Financial, affiliated with the Trump family, took action. Meanwhile, World Liberty Financial is preparing to launch its own digital wallet. This situation has escalated tensions.  

The company sent a cease-and-desist letter to the developers, claiming unauthorized use of the wallet name and the Trump brand. Fight Fight Fight also partnered with Magic Eden to promote the wallet. Unfortunately, Magic Eden also received a warning due to these notices. This development caused confusion among investors.  

Direct Reaction from the Trump Family  

The Trump family did not stay silent. Donald Trump Jr. expressed his reaction directly on the social media platform X, stating:  

“This project is not approved and has no connection with us.”  

Eric Trump added in a written statement:  

“Care should be taken regarding the use of our name in unapproved projects unrelated to our organization.”  

Following these statements, the memecoin price dropped about 10%. The token, which reached $75.35 in January, now trades around $9.78, losing nearly 87% of its value. The Trump family is directly or indirectly involved in two competing projects. Both try to stand out in the crypto market with Trump-themed products, competing to attract Trump supporters and newcomers to crypto.  

Meanwhile, World Liberty Financial continues developing its own digital wallet, aiming to offer yields through its token. Despite occasional disruptions in the digital infrastructure, approximately $550 million has been raised, and a stablecoin named USD1 has been launched.  

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A government official looking to get close to the U.S. President can at most book a few luxury hotel rooms or send a limited number of expensive gifts. However, in the world of cryptocurrencies, such boundaries are almost entirely erased. Anonymous transactions and borderless transfers can open the door to billions of dollars in income for Trump and his family.

Among the entities linked to the Trump family are currently two different “meme coins” and an exchange called World Liberty Financial, which has issued its own token. Moreover, soon anyone will be able to purchase shares of “American Bitcoin,” a crypto mining company set to be publicly traded. Behind this firm are Eric Trump and Donald Trump Jr.

Access Through the Presidency: “Crypto Gala” Raises Questions

As American Bitcoin’s IPO plans emerged, an auction for a gala dinner exclusive to $TRUMP token holders concluded on the same day. At this dinner, the top 25 investors were promised one-on-one time with Trump and a private tour of one of his clubs.

This situation is seen as one of the most blatant efforts to gain direct access to the presidency. Political ethics watchdogs say this amounts to “putting the presidency up for sale.” The emoluments clause in the U.S. Constitution clearly states that government officials cannot accept gifts from foreign governments without Congressional approval.

Just like the past “Fat Cat Hotel” scandal, donors were rewarded for their contributions. But the anonymity and vast scale offered by the crypto system far exceed anything previously seen.

Millions Flowing into Trump Coin

In the past month, investors have poured approximately $148 million into the $TRUMP token. It’s reported that 80% of the token supply is held by two entities connected to the Trump Organization, which are making millions purely through transaction fees. Following the token-related gala invitation, income from these fees alone exceeded $1.3 million.

A $2 Billion Deal From the Middle East on the Table

It was recently revealed that World Liberty Financial, operated by the Trump family, is set to receive $2 billion in deposits from a venture fund backed by Abu Dhabi. This news led to the withdrawal of a pro-crypto bill being discussed in the U.S. Senate. Even some Republicans who support the crypto sector expressed discomfort with the development.

Wyoming Senator Cynthia Lummis stated that the Trump family’s profit-driven involvement in crypto complicates the legislative process. Despite this, the Trump camp continues to deny any claims regarding the president’s personal interests. White House spokesperson Karoline Leavitt responded: “The claim that President Trump is doing anything for his own benefit is ridiculous.”

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