Jonathan Raa | Nurphoto | Getty Images
Magic Eden, best known as a non-fungible token marketplace, said it has partnered with the team behind President Donald Trump’s meme token to launch an official $TRUMP-branded cryptocurrency wallet.
Dubbed the $TRUMP Wallet, the product will feature the president’s name and likeness, as well as support trading of $TRUMP and other digital assets including bitcoin.
A waitlist for the wallet opened Tuesday at TrumpWallet.com, ahead of a broader launch slated for later this summer, according to a Magic Eden spokesperson.
Eric Trump, who has taken on leadership roles across several of his father’s crypto ventures, claimed to have no knowledge of the project.
“I run @Trump and I know nothing about this project! @worldlibertyfi $Trump @AmericanBTC,” he posted on social media site X.
The official TrumpMeme X account reposted the Magic Eden wallet announcement.
CNBC reached out to Magic Eden for clarification on Eric Trump’s denial. Magic Eden pointed to the TrumpMeme X account, which reposted the $TRUMP Wallet announcement, but the company didn’t provide additional comment.
CNBC reached out to the $TRUMP token team to ask about the terms of the partnership, potential revenue-sharing and whether the wallet would require KYC, but did not immediately hear back.
Billed as “the first and only crypto wallet for true Trump fans,” the project was promoted on X with the promise of a share in $1 million in $TRUMP rewards. Users who sign up and refer friends can climb the waitlist, Magic Eden said in a statement to CNBC.
The gamified promotion is the latest attempt to drive inflows into Trump-affiliated crypto ventures — and it deepens the president’s growing ties to the digital asset industry.
The family’s expanding crypto portfolio already includes NFTs, a stablecoin, a decentralized finance platform with its own virtual token, meme coins named after him and the First Lady, as well as plans for crypto exchange-traded funds through Truth Social’s new financial arm, TruthFi.
Between March and June of 2022, Magic Eden raised over $150 million from investors including crypto-focused firm Paradigm and major Silicon Valley firms like Greylock, Lightspeed Venture Partners and Sequoia.
Magic Eden, whose CEO attended the president’s recent fundraiser dinner for winners of a previous $TRUMP coin contest, appears to be building the wallet on top of Slingshot Finance, a self-custodial trading app it acquired in April.
Slingshot’s platform features meme tokens such as BONK and FARTCOIN and does not directly collect user identity information. Instead, identity checks are handled by MoonPay, its fiat on-ramp provider.
It remains unclear whether the wallet will require its own KYC procedures, or how revenue and responsibilities will be split between Magic Eden and Trump-affiliated entities.
