Trump cryptocurrency wallets, a story entangled in progress

Yesterday, Donald Trump, the president of the United States, seemed to be placing one more stone on the building of his personal initiatives related to cryptocurrency.

Magic Eden and Trumpmeme, two companies related to the Trump organization and their Token Trump, announced the “Trumpwallet” while revealing an active web domain that allows you to join a white list (Whitelist) to obtain it.

A few hours later, Eric Trump, executive vice president of that organization and son of the current president of the United States, was denialing his relationship with the Wallet, ensuring that this project is not related to the Trump organization. In turn, Donald Trump JR denied this information and announced that World Liberty Finance, the company of which it is co -founder, will launch a cryptocurrency wallet.

In the last hours, $ Trump Wallet had a profile opened in X. The account had not made any tweet and recorded less than 200 followers. Today, however, said account It appears suspended for allegedly violating the norms of the social network X.

For its part, the Trump Wallet website remains active and shows no modification. Even, and despite the controversy, this website communicates that the Whitelist participants would be distributed up to a million dollars in Trump tokens and other rewards in the form of rewards, which reinforces the relationship between $ Trump Wallet and the official Donald Trump token.

Rightly, David Schwartz, Cto de Ripple, led an investigation and revealed with evidence that, although the members of the organization ensure they have no knowledge of said Wallet, Yes there is a background relationship between Magic Eden, Trumpmeme (the advertisers of $ Trump Wallet) with the Trump organization.

This relationship is enough to believe that the launch of $ Trump Wallet does not lack a certain authority related to the president, although the Trump organization is actively unchecking the product.

This is a very strange situation. Both Magic Eden and Gettrumpmemes have published this announcement, but Donald Trump Jr. and Eric Trump claim that the Trump organization has no participation. However, Gettrumpmemes is owned by Fightfightfight LLC, which launched Trump’s official currency, and is co -ownership of CIC Digital LLC, part of the Trump organization. Were both accounts hacked to publish a false ad? That seems very unlikely.

David Schwartz, Cto de Ripple.

In a subsequent analysis, Schwartz comments that the “most likely explanation is not a scam, at least not a total or fraud fraud, but rather a misunderstanding” between the parties. He also clarifies his previous message saying that he does not know with certainty “if $ Trump Wallet is related to CIC Digital LLC”, although this company “specifically states, and CIC Digital LLC seems to be affiliated with the Trump organization.”

An X user ensures that, despite the connections between the Trump and Trumpmeme organization, both are separate entities. The last, in particular, It would have the right to use the image of Donald Trump for the creation of products related to the Token Trumpusually reported by cryptootics.

I think the Trump organization received 80% of the supply for using Trump’s name, but the team is an independent entity. I guess there is some participation. Although the Trump organization received most of the supply, the real team that executes the memecoin is free to associate with Magic Eden and use the $ Trump image for its Wallet, which exceeded the Trump organization (World Liberty Fi), who is also working on a Wallet. I imagine that the Trump family is not happy.

Borovik.sol, user of X.

Although many users are trying to demarcate and measure the level of participation of the Trump organization in the Wallet in the process of launching, the truth is that none of the parties involved has made subsequent statements clarifying their relationships.

Trumpwallet showed “Red Flags” from the beginning

Although it could not be a scam (scam)except if, as Schwarts suggested, Magic Eden and Gettrumpmemes’ accounts were hacked simultaneously to spread a message, several users in X have rightly pointed out that $ Trump Wallet was worthy of distrust from the outset.

The page, which was disseminated yesterday, still demands to register at the Whitelist supply email, telephone number and, optionally, username in X.

A fraudulent intention in the recollection of these data would imply that many users will be exposed to phishing and other scam attempts, in addition to the danger that the kidnapping of personal information involves for physical integrity.

Besides, a Bitcoin Wallet and cryptocurrencies that allow self -ocustody not requires the recollection of personal information, and in fact the contraindica. Users who use $ Trump Wallet may be subject to “doxing”And to the crossing of his on-chain activity with his personal identity.

For example, and again presupposing (without evidence) that the intention of the creators of $ Trump Wallet is fraudulent, these can make phone calls to the wallet users referring to the exact amounts and names of the tokens that it transfers into chain and what addresses.

US senator says that the launch of a Trump Wallet is timely

Elizabeth Warren, the progressive senator of Massachusetts, has very different ideas about the officiality of the $ Trump Wallet or, failing that, of the purse that will be released by World Liberty Finance.

The Senator’s publication criticizes a provision of the Republican Party in the Genius Law, a bill that promotes the regulation of stable currencies.

This slit “at the last minute”Allegedly enables legislative lagoons about cryptocurrency purses that could benefit the launch of a Wallet by the Trump family. “I will present an amendment to close this lagoon, but this bill should not be approved without serious solutions to combat corruption,” said Warren.

At the time of writing, Magic Eden makes silence about the $ Trump Wallet event. The Trump family has not spoken again, after unchecking the purse and warns that the president’s image is used. Meanwhile, the truth about this Wallet is not known for sure and remains a cause for speculation in social networks.