The Trump Organization is officially stepping into the crypto space with a new Trump-themed digital wallet. According to Donald Trump Jr., the wallet is “coming soon,” confirming plans for an official crypto venture under the Trump brand.
However, the announcement triggered widespread confusion after a separate, unauthorized project appeared online promoting a “$TRUMP Wallet.” The website behind this project claims the Trump name but does not have any official link to the Trump family or organization.
Eric Trump has denied using Truth Social and cautioned followers to be careful about any false information.
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All users willing to wait on the unverified site may be eligible to receive $1 million in tokens if those tokens come into existence. A well-designed website and powerful branding have given cryptocurrency a sense of legitimacy to confident investors.
No clear announcement or proof from official sources has been provided, so people wonder if it is being abused for scams.
Unverified Site Raises Red Flags Over Misuse of Trump Branding
The situation is further complicated by claims on the rogue site linking it to Slingshot Finance, a trading app recently acquired by Magic Eden. Neither Magic Eden nor Slingshot Finance has confirmed involvement with the project.
Their silence has fueled speculation, especially among traders who recall Magic Eden’s previous support of Trump Cards NFTs.
Adding to the controversy, Clinton Bembry of Slingshot Finance and Jack Lu of Magic Eden were both spotted at a private dinner with members of the Trump meme coin community. While some wonder about unofficial links, no official word has been given about properties to the unofficial wallet initiative.
At the same time, the market is still seeing the active presence of the officially acknowledged TRUMP token. Currently, its price is $11.43, with $563 million being traded in the last 24 hours. A temporary dip of 10 percent brought the company’s market cap down to $2.29 billion, proving there is still a lot of investor interest.
Since the Trump Organization talked about using crypto wallets, there are worries about a fake $TRUMP token site. Clearer communication and verified channels will be vital in separating official products from unauthorized imitations.
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