Latest news with #Trump-branded
Yahoo
4 hours ago
- Business
- Yahoo
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
Yahoo
5 hours ago
- Business
- Yahoo
Trump Memecoin Wallet Spurs Divide Among Family's Crypto Camps
(Bloomberg) — There appears to be a divide among the various crypto-entities affiliated with President Donald Trump. Where the Wild Children's Museums Are Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry At London's New Design Museum, Visitors Get Hands-On Access The Global Struggle to Build Safer Cars LA City Council Passes Budget That Trims Police, Fire Spending The NFT marketplace Magic Eden said Tuesday that it's partnering with the team behind Trump's memecoin and other ventures to offer a Trump-branded digital wallet and trading application. After reports of the memecoin wallet partnership were published, Donald Trump Jr. said in a posting on X that the Trump Organization had 'zero involvement' in the product and that the family's World Liberty Financial crypto project will be launching its own wallet soon. A spokesperson for Magic Eden told Bloomberg News that the firm is working on the app, but couldn't share a launch date yet. A representative for which is run by long-time Trump collaborator Bill Zanker, didn't immediately return a request for comment. Magic Eden has worked with Zanker on his Trump NFT collections. Available at the app will facilitate trading in the Trump memecoin as well as other cryptocurrencies on major blockchains, and will let users self custody coins and manage their digital assets. The wallet partnership is the latest of several crypto ventures involving the president, his family or associates that have generated concern about potential conflicts of interest. Last month, Senator Richard Blumenthal of Connecticut accused World Liberty of reaping 'substantial financial benefits for its founders and the Trump family.' World Liberty dismissed the allegations. Three members of the Magic Eden team, including its Chief Executive Officer Jack Lau, attended the recent dinner with Trump and holders of his memecoins that inflamed the controversy about the president's crypto ties. The Trump memecoin was issued a few days before Trump's inauguration, and its market capitalization peaked at nearly $15 billion before crashing; it currently stands at $2.31 billion, according to crypto tracker The coin's issuer is pushing for its use in e-commerce and other applications as a way to increase its user base and usefulness. Last year, Magic Eden expanded beyond NFTs, launching its first mobile wallet app allowing for trading of NFTs as well as swapping cryptocurrencies such as Bitcoin, Ether and Solana. Then earlier this year, Magic Eden bought Slingshot Finance, a fast-growing mobile-first crypto trading app, competing with centralized crypto exchanges. Users who sign up for a waiting list for the app are being offered prizes in Trump memecoin, according to the site. Entrants will receive referral links, which they will be able to share with others, and successful referrals could result in winnings of the memecoin. —With assistance from Nathaniel Popper. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To Cuts to US Aid Imperil the World's Largest HIV Treatment Program ©2025 Bloomberg L.P.
Yahoo
7 hours ago
- Business
- Yahoo
DNC trolls Trump on tariffs with free 'TACO' truck parked outside RNC headquarters
FIRST ON FOX— The Democratic National Committee on Tuesday parked a new, decked-out food truck in front of the Republican National Committee headquarters in Washington, D.C. The truck itself, rented out by the party, was custom-wrapped in photos of the president himself, and those inside were doling out a free, mouth-watering lunch option to passers-by. But those in Washington know there's no such thing as a free meal. And that's certainly the case here, because the food truck in question is a taco truck— a clever, policy-themed provocation hitting on tariffs, which the DNC sees as one of Trump's most vulnerable areas heading into 2026. The DNC's renting and customization of the taco truck, as well as its plans to hand out free Trump-branded tacos to passers-by, was previewed exclusively to Fox News Digital. It looks to seize on the acronym TACO, or "Trump Always Chickens Out," to provoke Trump's ire. The phrase was coined by Wall Street analysts when referring to Trump's tariff policies – and more specifically, espousing the view among some that Trump will walk back the steep reciprocal tariffs he announced in April, which are currently playing out in federal courts. Beyond simply presenting a moral quagmire to hungry RNC employees and other Hill staffers, DNC officials told Fox News that they see the truck as an effective way to draw attention to Trump's tariff policies, which they described as "playing games with working families' livelihoods." Trump Tariff Plan Faces Uncertain Future As Court Battles Intensify "Trump always chickens out – we're just bringing the tacos to match," DNC Chair Ken Martin told Fox News Digital of the effort. Read On The Fox News App "Instead of realizing his tariff chaos is wrecking the economy, Trump continues to drag America towards more economic pain, and the rest of the world sees Trump for exactly what he is: a chicken," he added. The food truck comes as Trump's power to enact sweeping tariffs has come under legal scrutiny. There is also an open question of whether the administration would actually move forward with the harsh import fees. Treasury Secretary Scott Bessent previously acknowledged that the threat of tariffs could be used as more of a negotiating tactic or an opening salvo for future trade talks, including between the U.S. and China, and described Trump's uncertainty in the process to reporters last week as a means of "strategic uncertainty in the negotiations." As of this writing, three separate federal courts are weighing Trump's use of the International Emergency Economic Powers Act (IEEPA) to stand up the harsh import fees. The plan, which Trump announced on April 2, invokes IEEPA for both his 10% baseline tariff on most U.S. trading partners and a so-called "reciprocal tariff" against other countries. Trump Denounces Court's 'Political' Tariff Decision, Calls On Supreme Court To Act Quickly The administration has appealed two lower court decisions that blocked his use of the law to either enact or threaten to enact the harsh tariffs. Last week, the U.S. Court of Appeals for the Federal Circuit stayed a lower court order from the U.S. Court of International Trade, allowing Trump's tariff policy to continue for now while the court continues to investigate the merits of the case. Two other lower court challenges remain in flux. In the meantime, however, the moniker TACO has gotten under the president's skin. Last week, Trump blasted a reporter who asked him about the phrase, describing it as a "nasty question." "Don't ever say what you said," Trump told the reporter. "To me, that's the nastiest question," he said. "I chicken out, oh, I have never heard that," Trump said, noting that lowering the tariffs was part of an ongoing "negotiation" with China. He continued, "You mean because I reduced China from 145% that I set down to 100 and then down to another number? I said, 'You have to open your whole country.'" Justice Department Tells American Bar Association It Will No Longer Comply With Ratings For Judicial Nominees Democrats are using the truck to seize on what they see as a clear sore spot for the president, and a way of tying Trump more directly to any market uncertainty and turmoil that has come as a result of the tariffs. It comes as the party has struggled to coalesce around a unifying message in the aftermath of the 2024 elections. The party has been criticized for failing to seize on Elon Musk's departure from his official role in the Trump administration at the end of May, and for focusing its energy on attacking intraparty strategies and DNC board members, rather than going after the RNC more broadly. The Republican National Committee, for its part, brushed off the truck in question – as well as the notion that it impacted voters or RNC staff in the manner intended. The truck itself was parked outside St. Peters Church, one block away from the building itself. "LMFAO. A taco truck?" Zach Parkinson, the RNC communications director, told Fox News Digital in a statement. "Are they going to be giving out free vasectomies again too? These people are morons," he said, adding: "No wonder Democrats' approval rating is at a historic low." The taco truck stunt signals a shift in strategy, as Democrats adopt a more Trump-style approach to political attacks ahead of the 2026 midterms, but some of their efforts have missed the mark. Earlier this week, conservative commentators took aim at a TikTok posted by Rep. Eric Swalwell (D-CA), in which he is filmed eating a taco in an attempt to mock Trump's tariff strategy, with some declaring it "cringeworthy." DNC officials did not respond to Fox News Digital's questions on whether the party plans to pursue the tariff strategy beyond the taco truck, or if it sees these issues as a way to counter Trump and his allies with red state voters in the midterms and article source: DNC trolls Trump on tariffs with free 'TACO' truck parked outside RNC headquarters
Mint
a day ago
- Business
- Mint
The Trump Organization has expanded globally since the 2024 election. See where.
President Trump pledged to bring business back to the U.S. His own company has been doing more business overseas than ever before. Since the November election, the Trump Organization, the family's flagship real-estate firm, and its partners have publicly announced 12 international projects including residential high-rises, hotels and golf courses—far outpacing the two overseas deals announced during his first administration. The Trump Organization released an ethics agreement in January barring the company from doing business directly with foreign governments. Yet several of the deals involve foreign governments, especially in the Middle East. The Trumps say there is a crucial distinction. The company isn't transacting directly with foreign governments. Rather, some of the Trump deals are joint ventures with companies that are doing business with foreign governments. The 12 developments were under contract before November, according to a Trump representative. Since Trump's re-election, however, company executives say international partners are more eager to do business because the Trump name is now associated with his victory. 'We're the hottest brand in the world right now," said Eric Trump, the president's son who is running the Trump Organization on a day-to-day basis. State-backed entities have also been involved in several recent Trump deals in the Gulf region, including a resort featuring luxury villas with private beach access in Qatar. The real-estate company is expanding beyond the property business, striking a $2 billion cryptocurrency deal with the United Arab Emirates state fund in May. 'I think everybody knows that these countries are giving money to Donald Trump because they think they'll get favorable treatment in exchange," said Sen. Chris Murphy, a Democrat from Connecticut and former chairman of the Senate Foreign Relations Middle East subcommittee. White House deputy press secretary Anna Kelly said, 'The President is working to secure good deals for the American people, not for himself." In the past six months, the Trump Organization ramped up its real-estate ventures in India, launching two projects with its longstanding partner, Tribeca Developers. Tribeca also announced plans for three more Trump-branded projects in the country. Tribeca Developers founder Kalpesh Mehta, who first met Donald Trump Jr. through a mutual Wharton professor, has maintained close ties with the Trump family since at least 2013, according to local media reports. He attended both of Donald Trump's inaugurations and dined with the family at Mar-a-Lago, including a private dinner this past January. Since November, Mehta has stated in local publications that demand for Trump properties has sharply increased across the country. In May, Tribeca and the Trump Organization announced a record-breaking over $300 million in sales after selling out a second Trump Residences Delhi on launch day. Neither Mehta nor Tribeca Developers responded to requests for comment. The Trump Organization's international expansion largely hinges on a licensing model: It collects fees for its brand and management services, rather than committing its own funds to the projects. Donald Trump's latest financial disclosure shows more than $9 million from six overseas licensing agreements between January 2023 and August 2024. Since the November election, the Trump Organization has unveiled twice as many deals. Donald Trump Jr. and Eric Trump have made at least nine overseas trips to a dozen countries since November—many tied to Trump Organization ventures—including a swing through Eastern Europe that Donald Jr. promoted as 'Trump Business Vision 2025." Along the way, he dined with prime ministers, spoke at cryptocurrency events, and touted to local media that the Trump Organization desired to explore new partnerships abroad. During Trump's first administration, by contrast, the company gave priority to existing operations, debt reduction and cash reserves. The lower profile overseas also avoided appearances of conflicts of interest, according to Donald Trump's 2023 deposition during his civil court battle with New York Attorney General Letitia James. Trump said he told his children: 'Don't do deals. We don't need deals…We have a lot of property. They're great properties. Run them." Eric Trump said in an interview in October that the company was reconsidering that approach because it wasn't given sufficient credit for its pullback in the first Trump administration. 'Should I stop all expansion? I don't know what the answer is. I tried to do everything right in 2016, and I got very little credit for it," he said of efforts to distance the newly elected president from the company. 'We still kind of got stomped on." Write to Brenna T. Smith at Peter Grant at and Daniel Kiss at
Newsweek
4 days ago
- Business
- Newsweek
Full List of Trump's Foreign Real Estate Ventures Underway Around the World
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Before stepping into the Oval Office, Donald Trump was widely known as a real estate mogul at the helm of the Trump Organization, the family empire now steered by his sons, Eric and Donald Jr. The family business is rapidly expanding, breaking ground across several continents as Trump, who has stepped aside from its daily operations, serves as president of the United States. Many have raised concerns about potential conflicts of interest involving Trump's family and ongoing U.S. trade negotiations with foreign countries. Newsweek has reached out to the Trump Organization for comment via email on Friday. Why It Matters Concerns over blurred lines between politics and personal business have repeatedly surfaced during both Trump administrations. The Trump Organization continues to pursue real estate ventures across the world while Trump is in the Oval Office. Trump's investments, assets and business interests are in a trust managed by his children. The organization hired an ethics advisor earlier this year, William Burck, who has since been fired over his legal involvement with Harvard University in a case against the president. The administration is actively negotiating trade deals with a range of countries following the president's imposition and sudden temporary suspension of "reciprocal" tariffs, part of a broader effort to reduce the U.S. trade deficit. In addition to real estate, Trump has profited from various business ventures during and after his time in office, including his stake in Trump Media & Technology Group, the parent company of Truth Social, and a cryptocurrency meme coin bearing his name. The two efforts have begun to overlap, with Trump Media recently announcing plans to raise funds to purchase Bitcoin. What to Know The Trump Organization, which operates hotels, residential and commercial buildings, and golf courses, owns and operates dozens of properties worldwide, including in North America, the United Kingdom, the Middle East, and Asia. Photo-illustration by Newsweek/Getty/Canva Breaking Ground in Vietnam The Trump Organization has continued to announce new partnerships and construction projects around the world. In a May 21 statement, the company said it had "officially broken ground on the first Trump-branded golf and residential development in Vietnam – Trump International, Hung Yen." It's the first Trump-branded project in Vietnam and will feature "two championship golf courses," villas, a spa, and dining facilities. Eric Trump said the country "represents one of the most dynamic and promising markets in the world today." Dang Thanh Tam, Chairman of Kinh Bac City Development Holding Corporation, said in the press release: "From the moment we began discussions with The Trump Organization, it was clear we shared a common vision, Hung Yen has the potential to become the premier destination for golf and luxury living in Asia, and with Trump's unmatched global expertise in championship golf developments, we are extremely excited to bring this vision to life." Reuters has reported that in addition, a Trump Tower in Ho Chi Minh City, estimated at around $1 billion, could start next year. Eric Trump visited the country in May. In April, Trump imposed and then paused "reciprocal" tariffs of 46 percent on the country. New Projects in India In early May, the Trump Residences in Gurgaon, India, completely sold out on launch day, "recording an unprecedented ₹3,250 crore in allotments," around $3.8 million, according to a Trump Organization press release. The Trump Towers Delhi-NCR launched in 2018 in Gurugram, India, and has yet to open. Kalpesh Mehta, founder of Tribeca Developers, said in a May 9 press release: "Trump Residences Gurugram is not just a real estate project - it's a landmark moment for India's luxury market." Earlier this year, the Trump Organization announced the launch of "Trump World Center Prune," a 1.6 million square feet commercial real estate venture featuring two glass towers, as well as a "luxury retail boulevard." More Developments in UAE The Trump family is no stranger to the Middle East, with several financial and organizational ties to the region. Dubai, the United Arab Emirates (UAE)'s commercial hub, is already home to the Trump International Golf Club. In April, The Trump Organization announced plans for a new addition, the Trump International Hotel and Tower, a luxury high-rise slated to be in the heart of the city. The tower would be the first in the region and marks the fifth time Dar Global and The Trump Organization are partnering. New Development Planned in Qatar Qatar, which has been in the headlines over its role in negotiating peace deals and gifting Trump with a new Air Force One plane, is also expecting a new Trump development. At the end of April, The Trump Organization announced a new $5.5 billion Simaisma development of a luxury golf resort north of Doha. The development will include Trump-branded beachside villas and an 18-hole golf course. Saudi Arabia Expansion The Trump Organization frequently partners with Dar Global—the international arm of Saudi-based luxury developer Dar Al Arkan—on hotel, tower and golf course projects across the Middle East. In December 2024, the Trump Organization issued a press release about a new development in the coastal Saudi city of Jeddah. Ziad El Chaar, CEO of Dar Global, said in the press release that the firm is "delighted to strengthen our ongoing relationship with The Trump Organization and expand our portfolio by delivering premium properties to redefine Saudi Arabia's high-growth real estate market." The Jeddah Tower is estimated to cost $530 million. Two additional Trump Organization projects in the country's capital, Riyadh, are in the works, with Eric Trump telling Reuters in December that they will include at least a tower and be developed in partnership with Dar Global. Oman Construction A Trump International Hotel in Oman is under development and slated for completion by December 2028, according to the project's website. The venture underscores a broader surge in luxury real estate development across the Gulf region. The $500 million project is close to Oman's capital, Muscat, offering a golf course, 140 rooms, a spa, and other facilities. Serbia Hotel Trump's son-in-law, Jared Kushner, and his firm Affinity Partners signed a deal with the Serbian government to redevelop part of Belgrade. The deal is in partnership with the Trump Organization, but an investigation has been opened into a potential forgery of government documents related to the area's protected status. Open Facilities There are over a dozen already opened and operating Trump Organization facilities, including golf courses across the U.S., in California, Maryland, Florida, New Jersey, North Carolina, and New York. Internationally, the group has golf courses across the United Kingdom, Ireland, Dubai, and Indonesia. Commercially, the company has holdings in major U.S. cities, like the Trump Tower in New York, as well as a handful of others in the city, and one in San Francisco. Residential units are available in New York, New Jersey, Connecticut, Illinois, Florida, Nevada, as well as India, Philippines, South Korea, Turkey, Indonesia, and Uruguay.
