Trump Crypto Wallet: Cease & Desist Issued
Trump Crypto Wallet Faces Legal Action
World Liberty Financial (WLFI), the cryptocurrency platform with ties to former US President Donald Trump and his family, has issued a cease-and-desist letter to Fight Fight Fight LLC. This action targets the company behind the creation of a Bitcoin wallet using Trump's brand and the TRUMP memecoin.
The letter follows the announcement of a waitlist for the Trump-branded crypto wallet by Magic Eden and the memecoin team. A Bloomberg report revealed that WLFI sent the letter on June 5th. This action comes after Donald Trump Jr., WLFI's "Web3 ambassador", publicly stated on June 3rd that the Trump Organization had "zero involvement" in the project. He also announced plans for the Trump Organization to launch its own crypto wallet.
Controversy Surrounds Trump's Crypto Activities:
- The President's crypto ventures, including WLFI and its USD1 stablecoin, have faced scrutiny from US lawmakers and industry leaders.
- Concerns have been raised about potential conflicts of interest and the use of his position to profit from the crypto industry.
- These concerns could impact the progress of digital asset-related legislation in Congress.
While initial announcements of the Trump-branded wallet were visible on X (formerly Twitter) from Magic Eden and Gettrumpmemes, the website TrumpWallet.com appears to be offline following the cease-and-desist letter.
Codeum: Ensuring Blockchain Security
Developments like these highlight the critical need for robust security measures in the crypto space. Codeum provides comprehensive blockchain security and development services, including:
- Smart contract audits
- KYC verification
- Custom smart contract and DApp development
- Tokenomics and security consultation
- Partnerships with launchpads and crypto agencies
Contact Codeum today to secure your blockchain project.
This is a developing story and will be updated as more information becomes available.