According to a report by Bloomberg, the Trump family has sent a cease-and-desist letter to Magic Eden and GetTrumpMemes.com over their plans for a Trump-branded crypto wallet. This move comes after the three sons of former US President Donald Trump - Don Jr., Eric, and Barron - publicly denied any involvement with the $TRUMP Wallet project, stating that neither the Trump family nor the Trump Organization authorized or is connected to the project. Eric Trump warned on social media that the project is unauthorized and advised caution when using the Trump name in unapproved ventures.
Meanwhile, lawyers for World Liberty Financial, a Trump family-linked crypto venture, drafted cease-and-desist letters to Magic Eden and GetTrumpMemes.com, the latter of which is owned by long-time Trump associate Bill Zanker. The $TRUMP memecoin, which is associated with the wallet, has reportedly generated $320 million in fees for its creators, while most retail traders have incurred losses. The Trump family's relationship with Zanker appears to have deteriorated, despite their previous collaborations on crypto projects.