Trump-related crypto projects prompt user confusion, warnings from Trump's son
As U.S. President Donald Trump leans more heavily into the crypto sector, his name is being used to promote several crypto projects that have nothing to do with his own ventures, prompting confusion among users and making them more vulnerable to being scammed.
Trump's son Eric Trump on Wednesday (June 4, 2025) used his X account to call out a project that was not affiliated with the official World Liberty Financial crypto project that Trump had previously endorsed.
The project in question, Magic Eden, was using images of Trump and the $TRUMP crypto ticker in order to rally up hype around an upcoming crypto wallet that it claimed was 'official.'
Magic Eden used an image of Trump holding up his fist that Trump himself has used to promote his $TRUMP crypto on January 18, which led to user confusion.
Trump's son stated, '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.'
Many X users in the comments expressed their confusion as they tried to differentiate between the $TRUMP crypto endorsed by the president and the version that Eric Trump had cautioned against. Others were not clear as to the links between World Liberty Financial, a Trump-linked crypto project working on a stablecoin, and the $TRUMP meme token.
Magic Eden is a trading platform with more than 800,000 followers on X. The account bio noted that its posts were 'not intended for US or UK audiences.'
Trump's promotion of crypto, and especially his own meme token, has made him the subject of criticism and concern as legal experts point out potential conflicts of interest. However, the U.S. crypto community has largely welcomed Trump's stance, hoping that his return to the White House will signal looser crypto regulations for businesses.
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