The Trump Organization is making its first official foray into the crypto space, with Donald Trump Jr. confirming the development of a Trump-branded digital wallet.
While full details remain under wraps, the announcement signals a significant step toward building a Trump-focused financial product within the digital asset sector.
But the rollout has already become clouded by controversy. Shortly after the announcement, an unauthorized project surfaced online claiming to be the official “$TRUMP Wallet.”
Complete with slick branding and an active promotional campaign, the project quickly gained attention despite having no confirmed ties to the Trump family or organization.
Eric Trump responded by urging the public to avoid misleading platforms and reiterated that neither he nor his family is promoting the $TRUMP Wallet through Truth Social or any other verified channel.
Red Flags Surround the Unofficial $TRUMP Wallet Launch
The unofficial site promises early supporters the chance to receive $1 million worth of tokens—if the project ever launches such an asset.
The absence of legal disclaimers, coupled with aggressive marketing and a polished website, has triggered concerns about a potential phishing or rug-pull operation leveraging the Trump brand for credibility.
Further complicating matters, the site loosely claims affiliation with Slingshot Finance, a DeFi trading protocol recently acquired by Magic Eden, a major NFT marketplace.
However, neither Magic Eden nor Slingshot has acknowledged any connection to the wallet initiative. Their silence, combined with prior associations with Trump-related NFT projects, has led to speculation but no formal proof of involvement.
Adding to the buzz, Slingshot’s Clinton Bembry and Magic Eden co-founder Jack Lu were reportedly spotted at a private event attended by members of the Trump meme coin community. Whether that indicates unofficial coordination or casual interest remains unclear.
Official TRUMP Token Still Holds Market Attention
Amid the confusion, the officially recognized TRUMP token, initially launched as a meme coin, remains active in the market. At press time, it trades at $11.43, with a 24-hour volume exceeding $563 million. Despite a recent 10% price correction, its market cap remains strong at $2.29 billion, reflecting ongoing retail and speculative interest.
The Trump Organization’s move into crypto, while still in early stages, raises important questions about branding, verification, and consumer protection in a space often exploited by imitators. As speculation grows, clear communication from official channels will be essential to distinguish between legitimate products and opportunistic knockoffs.
For now, crypto enthusiasts are advised to watch closely and verify everything.
