Financial entity World Liberty issues legal halt order to manufacturers of Trump Digital Wallet (according to reports)
Juicy Deets on the Crypto Feud between Trump Squads
The crypto sphere's melee between Trump's cronies has reached boiling point, courtesy of the new TRUMP Wallet fiasco.
World Liberty Financial (WLF), Trump's financial allies, have served a cease and desist order to Fight Fight Fight, the team behind the TRUMP meme coin and bonding buddy, Magic Eden. The drama, spilling from the announcement of the TRUMP Wallet, is intensifying faster than a Bitcoin bull run!
Wallet Woes Escalate
Bloomberg spilled the tea on the underlying beef. Reportedly, the ruckus began when Fight Fight Fight, helmed by Trump's longtime pal, Bill Zanker, declared the TRUMP Wallet on Tuesday. Magic Eden, a co-conspirator in the project, had WhatsApped (pardon the pun) a pretty picture of it on their socials, branding the app as, "The First, Funkiest Crypto Wallet for MAGA Enthusiasts." The wallet's primary function: serving as a snazzy hub for storing and trading the Trump meme coin and other digital assets.
Within minutes of the big reveal, Trump Scions took to the social media scene to express their ignorance of the wallet's existence. To clear up the mess, Don Jr. emphasized that the Trump Organization is plowing ahead with its wallet, partnering with WLF.
The wallet fandango has been shrouded with confusion, thanks to on-again, off-again antics on the official website and the associated X account getting iced.
At the crux of this brawl lies the Battle Royale for Trump-themed crypto supremacy. Given the booming market driven by Trump's colony charging into crypto-town, this conflict's got good money on it!
Trump's Crypto Ballooning Empire
Since its inception, Fight Fight Fight and CIC Digital LLC had unveiled the Trump meme coin in January, rallying $300 mil in fees. The jolly partnership retains a whopping 80% of token supply, now valued at a cool $1.7 billion.
To stoke the fires of interest, Zanker's been flogging the coin as the new cash for online shopping sprees and, last month, hosted a swanky dinner in Washington, where Trump himself entertained major token tycoons. The latest wallet's leveraging similar strategies, dishing out free meme coins to folks joining its waiting list.
Meanwhile, WLF's denied the bar yet raised approximately $550 mil through token sales since launch. Trump's crypto cavalcade also debuted the stablecoin USD1 with a market value of $2.2 billion. As per offering papers, a Trump-linked company rakes in 75% of the net proceeds from the endeavor, with the First Family commanding 60% of WLF through DT Marks DeFi LLC.
Trump, initially skeptical of crypto, jumped onboard, courtesy of Zanker, pushing for slapping his name on NFTs. Since then, they've birthed four NFT collections and feted supporters during Trump's campaign with Magic Eden's assistance.
Binance: Ready your pockets! Link up here and bag a generous $600 welcome bonus.Bybit: Swipe in and claim a $500 free position on any coin right this moment, folks!
[Sources][1] Politico (2021, December 27). Trump Organization and Family Investors Launch Stablecoin, Settling SEC's $120M Fine. https://www.politico.com/news/2021/12/27/trump-stablecoin-settlement-521287[2] The Block (2022, January 18). Trump Organization launches wallet apartment in jab at Trump-backed memecoin, escalating crypto feud. https://www.theblockcrypto.com/published/-/market-update/trump-organization-launches-wallet-apartment-in-jab-at-trump-backed-memecoin-escalating-crypto-feud-1292130203905[3] CNBC (2022, January 18). Trump's Digital Business Bites the Dust as Crypto Feud Mulls Memecoin Directions. https://www.cnbc.com/2022/01/18/trump-crypto-bites-the-dust-as-feud-mulls-memecoin-directions.html
- The TRUMP Wallet, a snazzy hub for storing and trading cryptocurrencies like the Trump meme coin, has caused a stir in the crypto sphere, leading to a feud between Trump's financial allies and the team behind the TRUMP meme coin.
- The TRUMP Wallet, announced by Fight Fight Fight and Magic Eden, is positioned as the first crypto wallet for MAGA enthusiasts, but its official existence was disputed by Trump Scions following its big reveal.
- The battle for Trump-themed crypto supremacy is intensifying, with Fight Fight Fight and CIC Digital LLC having rallied $300 million in fees for the Trump meme coin, while WLF has raised approximately $550 million through token sales since launch.
- The TRUMP meme coin is being promoted as a means for online shopping and has even been endorsed by Trump at a swanky dinner, while the latest wallet is offering free coins to individuals joining its waiting list.
- The crypto landscape, encompassing technology, finance, and entertainment, is witnessing a significant shift as Trump and his associates delve deeper into the crypto world, with forays into DeFi, stablecoins, and NFTs.
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