Trump Family’s Crypto Venture Issues Cease-and-Desist Over Unauthorized Wallet
World Liberty Financial demands halt to "Trump Wallet" development amid growing confusion over President's sprawling crypto empire
Quick overview
- World Liberty Financial (WLFI) has issued a cease-and-desist letter to Fight Fight Fight LLC over an unauthorized crypto wallet using the Trump name.
- Donald Trump Jr. distanced himself from the wallet project, emphasizing that the Trump Organization has no involvement.
- The dispute highlights the complexities of Trump's crypto ventures, which include various businesses with differing levels of official approval.
- The ongoing legal issues may impact the regulatory landscape for digital assets as Congress considers new legislation.
According to a Bloomberg article from June 5, World Liberty Financial (WLFI), the cryptocurrency platform supported by President Donald Trump and his family, has sent a cease-and-desist letter to the entities behind an unauthorized crypto wallet with the Trump name.
The lawsuit is against Fight Fight Fight LLC, the firm that produced the popular TRUMP memecoin and the website GetTrumpMemes.com, as well as the NFT marketplace Magic Eden. The two companies got into a fight after they said they were going to make a “official Trump wallet” earlier this week, which would have ads and a page where people could sign up for the waitlist.
Donald Trump Jr., who is a “Web3 ambassador” for WLFI, instantly said on social media that he had nothing to do with the idea, saying, “The Trump Organization has zero involvement with this wallet product.” He told people to be “very careful” about using their name in a project that hasn’t been approved and no one in their corporation knows about.
The younger Trump also said that WLFI would soon be creating its own official wallet. This adds to what seems to be a complicated web of Trump-branded crypto businesses that are functioning with different levels of official approval.
Tangled Web of Trump Crypto Ventures
The disagreement shows how complicated President Trump’s crypto empire is. It includes several separate businesses that have affiliations with the Trump name that are both similar and different. Bill Zanker, a longtime Trump friend who helped start the TRUMP memecoin in January 2025, is said to be in charge of Fight Fight Fight LLC. Zanker’s organization has the right to use Trump’s name and likeness for some crypto projects, but it is not connected to either WLFI or the Trump Organization.
The misunderstanding has already had an effect on the market. Magic After the cease-and-desist order, Eden’s ME token lost more than 9% of its value, and the TrumpWallet.com website fell down. The project’s social media accounts have also been shut down.
Fight Fight Fight LLC and another Trump-related company, CIC Digital LLC, own 80% of the total amount of TRUMP memecoins. The coin is worth over $1.7 billion on the market right now, making it one of the most valuable Trump-branded crypto assets.
Political and Regulatory Implications
The fight over the wallet comes at a time when politicians and industry experts are paying more attention to Trump’s crypto businesses. Democratic members of Congress have expressed apprehensions regarding the intersection between Trump’s political responsibilities and his increasing engagement in the cryptocurrency industry, cautioning that the commercialization of the presidency may politicize initiatives to enact digital asset legislation.
WLFI has raised over $550 million through token sales and runs the USD1 stablecoin, which is worth about $2.2 billion on the market. The platform has given significant token holders a lot of benefits, including as private dinner invites with President Trump at his golf club.
This debate is especially serious right now because Congress is working on a bill to build up a framework for a digital asset market and regulate payment stablecoins. Some politicians are worried that the problems with Trump’s crypto firms could slow down or stop progress on these important initiatives.
Looking Forward
WLFI and Fight Fight Fight LLC have not said anything publicly about the cease-and-desist letter, which has not been made public. The issue has many very worried about who owns and has permission to use brands in Trump’s growing cryptocurrency economy.
It’s still not obvious who will be permitted to use the Trump name in the world of cryptocurrency, even though things are changing. The episode makes it evident that Trump’s plan to break up his crypto businesses could lead to conflicts and disagreements.
As digital assets grow increasingly important in American politics and economy, the decision of this lawsuit might set fundamental standards for how political personalities’ branding are managed and controlled across multiple cryptocurrency ventures.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
