World Liberty Financial to invest in Trump meme coin following crypto wallet dispute
Eric Trump — who helps run World Liberty Financial alongside Donald Trump Jr. — announced Friday that the $TRUMP token had 'aligned' with the company and would no longer being moving forward with a crypto wallet, which had caused the rift between the two firms.
'Although their meme wallet isn't moving forward, they remain focused on building the most exciting MEME on earth – $Trump,' Eric Trump wrote in a post on X.
'Moreover, we're proud to announce that World Liberty Financial plans to acquire a substantial position in $TRUMP for their Long-Term Treasury,' he continued. 'We share a bigger vision for crypto, patriotism, and long-term success. Stay tuned for more to come!'
The team behind the meme coin initially announced Tuesday that they were launching a crypto wallet alongside Magic Eden, a nonfungible token (NFT) marketplace.
However, the announcement sparked confusion as the president's sons denied involvement in the project.
'The Trump Organization has zero involvement with this wallet product. @EricTrump and I know nothing about it,' Donald Trump Jr. wrote on X, teasing a separate World Liberty Financial wallet.
'This project is not authorized by @Trump. @MagicEden I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization,' Eric Trump added.
World Liberty Financial reportedly sent cease-and-desist letters to both Magic Eden and Fight Fight Fight, the company behind $TRUMP, over the wallet, according to Bloomberg.
However, the two firms appeared to have resolved their differences Friday.
'The Trump meme and WLFI may be different lanes, but they share the same highway. Same values, same mission—amplifying American strength through innovation,' World Liberty Financial said in a post.
President Trump launched the meme coin shortly before his inauguration and hosted a high-profile dinner with top investors last month. The president and his family's increasing involvement in the crypto industry has drawn scrutiny, as his administration seeks to get long-sought digital asset legislation across the finish line.
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