Latest news with #TrumpNFT
Yahoo
4 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.
Business Mayor
25-04-2025
- Business
- Business Mayor
Trump's tanking meme coin gets massive boost when dinner with the president is offered as a reward
Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter President Donald Trump's meme cryptocurrency surged in price on Wednesday after its website announced a few lucky investors could win a private dinner with the president in Washington, D.C. The $Trump coin surged approximately 60 percent after announcing the 'most exclusive invitation in the world' dinner to the top 220 holders. The sudden price jumped to $14 – still well below its peak o $70 after launching in January. 'President Donald J. Trump is known as the ' Crypto President,'' the site stated. 'At this intimate private dinner, hear first-hand President Trump talk about the future of crypto.' Trump has vowed to make the United States the 'crypto capital of the planet' and, in doing so, has launched his own crypto ventures, including NFT digital trading cards and memecoins. His attempts to brand his own coin and NFTs have raised concerns about conflicts of interest. Donald Trump gives a keynote speech at the Bitcoin 2024 conference at Music City Center on 27 July, 2024 in Nashville, Tennessee (Getty) The dinner is scheduled at Trump National Golf Club in D.C., on May 25. Winners will also have a 'Special VIP Tour' arranged for them. However, those who win the opportunity to have a 'private dinner' must pay 'all expenses' themselves, and there is no guarantee that Trump will attend. The terms and conditions say the dinner 'may be cancelled for any reason,' and in the event it is not rescheduled, winners will get a 'limited edition Trump NFT in lieu.'' Since his inauguration on January 20, Trump has overseen the biggest crash in the history of cryptocurrency. Bitcoin slid from $109,000 in late January to below $75,000 this month, with more than $1.3 trillion wiped from the broader crypto market in less than three months. The downturn comes amid global economic uncertainty fuelled by an escalating trade war between the U.S. and China, which has seen investors shed assets more prone to risk. Some figures within the crypto industry have also lamented Trump's failure to fulfill his pro-crypto campaign promises. At the Bitcoin 2024 Conference in Nashville last July, the Republican candidate said he would ensure that 'all the remaining bitcoin [is] made in the USA'. In January, Trump signed an executive order establishing a government reserve for bitcoin (REUTERS) He also pledged to set up a bitcoin treasury, however, the Strategic Bitcoin Reserve established in March was seen as underwhelming, as it did not involve the purchase of any new bitcoin. The crypto market has seen a slight uptick in recent days, though the rally has been attributed to institutional investment rather than any political moves in Washington. 'We're seeing increased long-term confidence and signals from institutional players,' Anil Oncu, chief executive of crypto payments platform Bitpace, told The Independent . 'Reports that banking giants Deutsche Bank and Standard Chartered are considering expanding their US crypto operations point to a more strategic investment in the sector and may be driving a sustained new optimism for bitcoin and the broader crypto market. 'Despite the surge, there will still be some caution. The Federal Reserve's next interest rate decision and ongoing discussions between Washington and Beijing will have a key influence on Bitcoin's price in the coming weeks.'
Arabian Post
24-04-2025
- Business
- Arabian Post
Trump's Memecoin Gala Sparks Crypto Frenzy and Ethical Debate
President Donald Trump is set to host an exclusive dinner on May 22 at the Trump National Golf Club in Washington, D.C., inviting the top 220 holders of his $TRUMP memecoin. This announcement has led to a significant surge in the coin's value, with prices climbing over 60% to reach $16.17, marking its highest level since early March. The event, organized by Fight Fight Fight LLC, stipulates that eligibility is determined by average holdings between April 23 and May 12. Attendees must pass a background check and cannot be from countries on Know Your Customer watchlists. The top 25 holders will receive additional perks, including a VIP reception and a special tour with the president. However, the event terms note that Trump may not attend, in which case winners would receive a limited edition Trump NFT instead. Launched on January 17, 2025, just days before Trump's inauguration, the $TRUMP coin is hosted on the Solana blockchain. Initially, 200 million tokens were released, with plans to expand the total supply to 1 billion over three years. Approximately 80% of the tokens are held by CIC Digital LLC and Fight Fight Fight LLC, entities linked to the Trump Organization. The coin's market capitalization has reached approximately $2.6 billion, ranking it as the 37th-largest cryptocurrency. Arabian Post – Crypto News Network
