"World Liberty Financial (WLFI) notifies Official Trump (TRUMP) developer to halt wallet development"

JH Kim

Summary

Bloomberg reported that World Liberty Financial (WLFI) has officially demanded a halt to the development of the meme coin Official Trump (TRUMP) wallet.
Donald Trump Jr. stated that the wallet in question is unrelated to the Trump family and mentioned that WLFI will launch a separate official wallet.
Eric Trump has warned of possible legal action regarding the situation, and analysis suggests that related disputes could impact investors.

On the 5th (local time), Bloomberg reported, citing multiple sources, that World Liberty Financial (WLFI), a DeFi project led by the Trump family, sent a letter to Fight Fight Fight, the developer of the meme coin Official Trump (TRUMP), demanding a halt to the development of the TRUMP wallet.

WLFI is also reported to have delivered the same letter to Magic Eden (ME), the NFT marketplace that had announced a plan to launch the TRUMP wallet.

Previously, Donald Trump Jr. stated, "The wallet under development by Fight Fight Fight is an unofficial product not related to the Trump family," adding that WLFI will release its own official wallet separately. Additionally, Eric Trump warned, "We will take legal action regarding this matter."

Analysts note that this situation, as meme coin projects revolving around President Trump face issues of 'official status' and tangled interests, could potentially escalate into legal disputes.