Trump Family Issues Legal Challenge Over Unauthorised Crypto Wallet
The disputed wallet was unveiled earlier this week through the X account associated with the $TRUMP memecoin, a cryptocurrency project initiated by Fight Fight Fight LLC. The company, reportedly connected to longtime Trump associate Bill Zanker, partnered with Magic Eden to promote the wallet, inviting users to join a waitlist. However, the Trump family has publicly denied any involvement with the project.
Donald Trump Jr., Eric Trump, and Barron Trump have all issued statements distancing themselves from the wallet. Eric Trump cautioned against the unauthorized use of their family name, while Donald Trump Jr. emphasized that the Trump Organization had no connection to the project. He also revealed that the family is developing their own official wallet through World Liberty Financial.
ADVERTISEMENT
World Liberty Financial, co-founded by the Trump family, has been actively expanding its presence in the cryptocurrency space. The firm has launched its own stablecoin, USD1, and is reportedly working on a crypto wallet focused on token yield generation. The company has attracted significant investment, including a $2 billion infusion from a firm associated with the Abu Dhabi government.
The emergence of the unauthorized $TRUMP Wallet has led to confusion and concern within the crypto community. The wallet's website has experienced intermittent outages, and its X account has been suspended. Despite these issues, neither Fight Fight Fight LLC nor Magic Eden has commented on the dispute.
The Trump family's foray into cryptocurrency has been marked by controversy. The $TRUMP memecoin, launched in January 2025, saw an initial surge in value before experiencing a significant decline. While the token generated substantial revenue through trading fees, it also raised ethical questions regarding the president's dual role as a public official and a private entrepreneur.
Critics argue that the intertwining of the Trump family's business interests with their political influence poses potential conflicts of interest. The lack of clear boundaries between governance and private enterprise has led to calls for greater transparency and regulatory oversight in the rapidly evolving crypto industry.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Middle East Eye
2 hours ago
- Middle East Eye
US-Palestinian advocacy group condemns Trump administration's sanctions on ICC officials
A US-Palestinian advoacy group has condemned the Trump administration's decision to sanction ICC judges and prosecutors as a "disgrace." "When the US punishes judges for daring to pursue justice for Palestinian victims, it confirms what so many of us already fear — that international law doesn't apply to the powerful, regardless of the gravity of their crimes," Sandra Tamari, Executive Director of Adalah Justice Project, told Middle East Eye. 'Palestinians turned to the ICC because every other door was slammed in our faces. And now, even that door is being torched. These sanctions are not just political; they are moral failure. If genocide and apartheid can't even be investigated without retaliation, then what justice is left for our people?' she added.
Middle East Eye
2 hours ago
- Middle East Eye
Lawsuit demands Trump administration reveal Gaza Humanitarian Foundation funding
The New York-based Center for Constitutional Rights (CCR) said on Wednesday that it filed a lawsuit against the Trump administration for its failure to comply with a Freedom of Information Act (Foia) request demanding the financial records of the Gaza Humanitarian Foundation (GHF). " Today's lawsuit seeks records that could shed light on not only the decision-making process... but also on the creation of GHF, its funding and how it plans to use" a US government grant, CCR said. "The Center for Constitutional Rights is particularly interested in information that could reveal whether the administration's distribution of funds has any link to President Trump's 'Gaza Riviera' plan, which would cleanse the area of Palestinians and redevelop it for investors," the statement said. Since GHF began its food parcel distribution operations in southern Gaza in May, its funding sources have been shrouded in mystery. The scandal-plagued aid scheme saw its first CEO resign because of human rights concerns, before over 1,000 Palestinians were killed by Israeli soldiers at its now four locations in the enclave. US military contractors who staff the GHF have also been seen in videos shooting at aid seekers - something former US special forces soldier Anthony Aguilar confirmed after leaving the organisation. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters "Operating in close coordination with the Israeli government and US for-profit private military contractors, the Gaza Humanitarian Foundation (GHF) sites have become synonymous with scenes of chaos and carnage," CCR said in a statement announcing its lawsuit. "GHF, far from alleviating suffering in Gaza, is contributing to the forced displacement, killing and furtherance of genocide of Palestinians." War on Gaza: GHF aid scheme is 'orchestrated killing,' says MSF Read More » The US State Department had earlier this summer approved $30m in funding for the GHF, despite insisting for weeks that it was an independent entity. The agency exempted it from the audit usually required for new aid grantees, and also overrode vetting mechanisms, including 58 internal objections to GHF's funding application. Reporters were told at a briefing last week that "roughly half" of the $30m amount had already been delivered. But where GHF drew its initial tens of millions of dollars, to pay the salaries and the travel expenses of what critics have described as "mercenaries", remains unknown. Chapin Fay, a new GHF spokesperson, told the UK's Channel 4 last week that western European nations have invested in GHF, but that he would not reveal which ones. CCR said it was also demanding an investigation into the legality of GHF's charter in the US state of Delaware, where the organisation is registered as a charitable nonprofit. CCR called on Delaware Attorney General Kathy Jennings to "investigate GHF and sue to revoke its charter on grounds that it is illegally abusing its privileges with its complicity in war crimes, crimes against humanity and genocide".
Dubai Eye
6 hours ago
- Dubai Eye
Trump says US may provide air support to back a Ukraine peace deal
US President Donald Trump said on Tuesday he had ruled out putting American troops on the ground in Ukraine, but said the country might provide air support as part of a deal to end Russia's war in the country. A day after Trump pledged security guarantees to help end the war at an extraordinary White House summit, the path to peace remained uncertain as the U.S. and allies prepared to work out what military support for Ukraine might include. "When it comes to security, (Europeans) are willing to put people on the ground. We're willing to help them with things, especially, probably... by air," Trump said in an interview with the Fox News "Fox & Friends" program. Trump did not elaborate. Later, in an interview with radio host Mark Levin, Trump characterised his negotiating style in trying to end the war as "probably instinct more than process". Hours after Zelenskyy's meetings in Washington, Russia launched its biggest air assault in more than a month on Ukraine, with 270 drones and 10 missiles launched, the Ukrainian air force said. The energy ministry said the strikes caused big fires at energy facilities in the central Poltava region, home to Ukraine's only oil refinery. Trump conceded that Russian President Vladimir Putin might not want to make a deal after all, saying, "We're going to find out about President Putin in the next couple of weeks." The nature of US military aid for Ukraine under a peace deal was unclear. Air support could take many forms, such as missile defence systems or fighter jets enforcing a no-fly zone. White House press secretary Karoline Leavitt confirmed that US air support was "an option and a possibility," but, like Trump, she did not provide any details. "The president has definitively stated US boots will not be on the ground in Ukraine, but we can certainly help in the coordination and perhaps provide other means of security guarantees to our European allies," she said at a news briefing. Before Monday's summit in Washington, Russia, which has often said that it agreed with the idea of security guarantees for Kyiv, reiterated its long-standing position that it "categorically" rejected "any scenarios involving the deployment of NATO troops in Ukraine". Analysts say more than 1 million people have been killed or wounded in the conflict, which began with Russia's full-scale invasion of Ukraine in February 2022. TRILATERAL MEETING? Zelenskyy hailed the White House talks as a "major step forward" toward ending Europe's deadliest conflict in 80 years and setting up a trilateral meeting with Putin and Trump. Zelenskyy's warm rapport with Trump contrasted sharply with their disastrous Oval Office meeting in February. Trump discussed Budapest as a venue for a summit involving Zelenskyy and Putin with Hungarian Prime Minister Viktor Orban on Tuesday, a White House official said. Istanbul, where delegations for the two countries have met previously, has also been mentioned, a senior administration official said. Hungary is one of the few European places that Putin could visit without fear of arrest on International Criminal Court charges as Orban maintains close ties with the Russian leader. It was unclear whether Ukraine would accept Hungary as a venue. Neutral Switzerland also said it would be ready to host Putin for any peace talks. "They are in the process of setting it up," Trump told radio host Levin about a Putin-Zelenskyy meeting. But Trump cast doubt on whether he would attend. "Now I think it would be better if they met without me... If necessary, I'll go," he said. There has been so far no confirmation from Russia that a potential bilateral meeting between Putin and Zelenskyy is being planned. After Trump's call to Putin on Monday, Kremlin aide Yuri Ushakov said only that discussion included the idea of "raising the level of representatives" in peace talks from both countries - but he did not elaborate to what level. Russian Foreign Minister Sergei Lavrov said in remarks published on Tuesday that contacts involving national leaders must be prepared "with the utmost thoroughness" and cannot be pursed for the sake of "media coverage or evening broadcasts". Ukraine's allies held talks in the so-called Coalition of the Willing format on Tuesday, discussing additional sanctions to crank up the pressure on Russia. The grouping has also agreed that planning teams will meet US counterparts in the coming days to develop security guarantees for Ukraine. NATO military leaders were expected to meet on Wednesday to discuss Ukraine, with US General Dan Caine, the chairman of the Joint Chiefs of Staff, expected to attend virtually, officials told Reuters. Putin has shown no sign of backing down from demands for territory, including land not under Russia's military control, following his summit with Trump on Friday in Alaska. Neil Melvin, a director at the International Security at the Royal United Services Institute think-tank, said Russia could drag out the war while trying to deflect US pressure with a protracted peace negotiation. Melvin said both Ukraine and its European allies on one side and Russia on the other were striving "not to present themselves to Trump as the obstacle to his peace process". "They're all tiptoeing around Trump" to avoid any blame, he said, adding that Trump's statements on security guarantees were "so vague it's very hard to take it seriously".
