Citation Needed is an independent publication, entirely supported by readers like you. If you find research and reporting like this valuable, please consider signing up for a pay-what-you-want subscription: https://www.citationneeded.news/signup
Magic Eden is likely scrambling to salvage what has become an embarrassing public relations disaster as the Trump sons have sent cease-and-desist letters over their and the $TRUMP memecoins’ use of the Trump brand.
![After I broke the news that Magic Eden and the $TRUMP memecoin project would be announcing an “Official $TRUMP Wallet by President Trump”, things exploded into chaos — and not just because the President of the United States continues to demolish his own records for self-dealing.
Magic Eden pushed out their announcement quickly after I published my story, only for all three of the Trump sons to repudiate the project within hours. “I run [the Trump Organization] and I know nothing about this project!” tweeted Eric Trump. Donald Trump Jr. made a similar post, reiterating that the World Liberty Financial project was working on their own version of a Trump wallet. Even Barron Trump, who is normally fairly absent from social media, posted that “our family has zero involvement with this wallet”.
This potential conflict with the World Liberty Financial project, which is more closely affiliated with the Trump sons, was something I noted in my original post. I wrote that there seemed to me to be “questions as to whether these various Trump-affiliated crypto projects, some of which are managed by separate entities, might wind up competing with one another.” Evidently such questions never even occurred to the Magic Eden team or the $TRUMP memecoin team while they were working on this announcement, because they seemed caught completely off guard.](/proxy/post_attachment/512908/6f77a9dc93.png "After I broke the news that Magic Eden and the $TRUMP memecoin project would be announcing an “Official $TRUMP Wallet by President Trump”, things exploded into chaos — and not just because the President of the United States continues to demolish his own records for self-dealing.
Magic Eden pushed out their announcement quickly after I published my story, only for all three of the Trump sons to repudiate the project within hours. “I run [the Trump Organization] and I know nothing about this project!” tweeted Eric Trump. Donald Trump Jr. made a similar post, reiterating that the World Liberty Financial project was working on their own version of a Trump wallet. Even Barron Trump, who is normally fairly absent from social media, posted that “our family has zero involvement with this wallet”.
This potential conflict with the World Liberty Financial project, which is more closely affiliated with the Trump sons, was something I noted in my original post. I wrote that there seemed to me to be “questions as to whether these various Trump-affiliated crypto projects, some of which are managed by separate entities, might wind up competing with one another.” Evidently such questions never even occurred to the Magic Eden team or the $TRUMP memecoin team while they were working on this announcement, because they seemed caught completely off guard.")
Re Trump remaining "uncharacteristically quiet", he's probably too busy fighting with his ex-"First Buddy" Musk at the moment.
https://www.theguardian.com/us-news/2025/jun/05/trump-elon-musk-fallout
Edited 9d ago