WLFI issues cease and desist notice to creators of ‘Official Trump Wallet’
World Liberty Financial (WLFI), the crypto venture associated with President Donald Trump and members of his family, has issued a cease-and-desist letter to the creators of a newly announced Trump-branded crypto wallet, Bloomberg News reported on June 5, citing a person familiar with the matter.
The letter, reportedly sent to Fight Fight Fight LLC, the company behind the Official TRUMP memecoin and the website GetTrumpMemes.com, came after the firm unveiled plans for an “official Trump wallet” in partnership with Magic Eden.
Promotional posts and a sign-up page were launched earlier this week to build a waitlist for the product. However, Donald Trump Jr., who serves as a Web3 ambassador for WLFI, disavowed the project on June 3.
Both him and Eric Trump issued public statements that WLFI and the Trump Organization were not involved in the wallet and that an official release would come directly from WLFI.
Branding battle
The unauthorized use of Trump’s name and image has highlighted growing tensions between parallel Web3 initiatives tied to the Trump brand, some officially sanctioned, others not.
WLFI, which oversees projects such as the USD1 stablecoin and has offered perks like private dinners for top $TRUMP token holders, is aiming to formalize its presence in the space ahead of broader product launches.
Lawmakers have taken note, with several Democratic members of Congress and the Senate voicing concerns about the overlap between Trump’s political role and his growing involvement in the crypto sector in recent weeks.
They warn that the commercialization of the presidency through digital assets could further politicize efforts to pass legislation on stablecoins, tokens, and decentralized finance.
As of June 5, the domain previously used to promote the wallet, TrumpWallet.com, had been taken offline. However, social media posts from Magic Eden and the memecoin team promoting the project remained live as of press time.
The cease-and-desist letter has not yet been made public, and WLFI has not issued an official statement regarding potential legal action.
The post WLFI issues cease and desist notice to creators of ‘Official Trump Wallet’ appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
