World Liberty Financial (WLFI), a cryptocurrency platform supported by President Donald Trump and his family members, reportedly issued a suspension and assumption letter to the company, taking responsibility for creating a Bitcoin wallet tied to the president’s brand.
According to a June 5th Bloomberg report, WLFI sent a letter to the Battle of Fight Fight LLC, the company that owns getTrumpmemes.com and issues Trump memo coins. The ceasefire notification comes after the team behind the inappropriate token marketplace Magic Eden and Memecoin revealed a waitlist of crypto wallets featuring Trump’s name.
Donald Trump Jr., the president’s eldest son and WLFI’s “Web3 ambassador,” said on June 3 that the Trump organization has “zero engagement” in the crypto wallet project and that the group plans to launch its own launch in the near future. The report cited people who were familiar with issues that called for anonymity.
Many US lawmakers and industry leaders have questioned the president’s crypto venture, including issuing personal memo coins that have been involved in the world’s Liberty Financial and its stub coins, USD1 and brought in a dinner invitation to Trump’s golf clubs for top 220 owners.
Some Democrats in the House and Senate have accused Trump of taking advantage of his position in profiting from the crypto industry — arguing that it could slow or halt progress on Congress’s digital assets bills.
Related: Trump’s Cryptographs Congress to Cloud Digital Assets Act
Both the X posts from Magic Eden and GetTrumpmemes on June 3, announced the wallet GetTrumpmemes, were still visible at the time of publication. However, previously, Trumpwallet.com, a website that can be used to sign up for waitlists, appeared to be offline following a report of a discontinued letter.
https://www.youtube.com/watch?v=vkc5qcrvdc0
Magazine: Trump’s crypto venture causes conflicts of interest, insider trading questions
This is a developing story, and more information will be added as it becomes available.
