Trump team plans launch of digital wallet as crypto empire keeps expanding
President Donald Trump's crypto branding machine shows no sign of slowing down. On Tuesday, the team behind the $TRUMP memecoin unveiled a wait list and X account for a forthcoming crypto wallet—the term for apps where users can store and swap cryptocurrencies, NFTs, and other assets issued on blockchains.
According to the website, the wallet is being offered in partnership with Magic Eden, a popular NFT marketplace. Magic Eden will use Slingshot Finance, a firm it recently acquired, to power the wallet, according to the site's privacy policy as well as terms and conditions.
'Most U.S. users (and mainstream users worldwide) use centralized exchanges today, but we know that the newest metas on crypto happens onchain,' Jack Lu, the CEO of Magic Eden, said in a statement on X, confirming the news.
Lu added that users will be able to use the Trump wallet to trade cryptocurrencies like Bitcoin and Ethereum, with 'more fun use cases coming soon.'
Bill and Dylan Zanker, the father-and-son duo behind Trump's memecoin, did not respond to a request for comment. Molly White, a prominent crypto researcher and critic, was the first to report the wallet's existence.
Eric Trump and Don Jr., the president's sons and leaders of another Trump-branded crypto project, said on X they had no knowledge of the wallet's launch. 'I run @Trump and I know nothing about this project!' posted Eric, referring to the Trump Organization, the president's real estate business.
The launch of a Trump-branded crypto wallet is just one of a slew of Trump-branded crypto products released in the past year. There's the president's NFT collection, his sons' DeFi application called World Liberty Financial, memecoins issued by him and his wife, a Trump-branded stablecoin, a new Bitcoin-mining firm, and a forthcoming video game. That's not to mention that Trump Media & Technology Group, his social media company that went public in 2024, has also dipped into crypto with a recent Bticoin treasury play.
A slew of lawmakers and ethics experts have repeatedly alleged that the President's launch of crypto products represents one of the most obvious cases of conflicts of interest in presidential history.
Trump's administration has instructed the Securities and Exchange Commission and the Department of Justice to loosen oversight of the crypto industry. The 47th president has also authorized the creation of a strategic Bitcoin reserve and exhorted lawmakers to pass bills on the regulation of crypto and stablecoins, or cryptocurrencies pegged to real-world assets like the U.S. dollar.
Less than two weeks ago, protesters gathered at a dinner for the top holders of Trump's memecoin in a Trump golf club outside of Washington, D.C. As the memecoin attendees filed in, the protesters shouted 'shame' for what they called a clear pay-for-access scheme.
'Trump's crypto businesses constitute one of the most corrupt innovations in American political history,' Robert Weissman, co-president of the nonprofit Public Citizen, which organized the protest, previously told Fortune.
Update, June 3, 2025: Added in that Trump's sons said they had no knowledge of the crypto wallet being launched by the president's memecoin team.
This story was originally featured on Fortune.com
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