Magic Eden Launches TRUMP-Branded Crypto Wallet Amid Controversy

Magic Eden has announced a partnership with the team behind President Donald Trump's memecoin to develop an official 'TRUMP-branded cryptocurrency wallet.' This new wallet, designed to showcase Trump’s image and name, will support trading of the TRUMP token and other popular digital assets, including Bitcoin. The TRUMP Wallet's waitlist has been opened, with a full launch expected later this summer, and is being promoted to Trump fans with incentives totaling $1 million in memecoin rewards. In an unexpected twist, Eric Trump denied involvement and warned that the project is unauthorized and not endorsed by the Trump family, raising questions about the project's legitimacy. Details regarding revenue-sharing and KYC requirements remain unclear, but this move appears aligned with Trump's broader digital asset strategy, which includes NFTs, stablecoins, and memecoins. The association between Magic Eden and Trump extends to events and strategic platform acquisitions, such as the Slingshot Finance platform. Currently, the TRUMP memecoin is trading at $11, suffering significant losses over the past two weeks, reflecting uncertainty or market skepticism.