Trump Crypto Feud Intensifies with Legal Dispute Over TRUMP Wallet

Tensions are escalating within Donald Trump’s expanding cryptocurrency ventures, as internal conflicts emerge over competing digital wallet projects. A company partially owned by Trump’s sons, World Liberty Financial, has reportedly issued a cease-and-desist notice to Fight Fight Fight, the organization managing the Trump-themed memecoin, objecting to its newly launched $TRUMP Wallet.

This conflict appears to have been triggered by Fight Fight Fight’s announcement earlier this week of its plans to develop a crypto wallet designed for trading and holding both the Trump coin and other digital assets. The company, led by longtime Trump associate Bill Zanker, has partnered with NFT marketplace Magic Eden on the wallet initiative — both parties allegedly received the cease-and-desist.

Donald Trump Jr. publicly criticized the project, while Eric Trump posted on social media warning against using the Trump name for ventures not endorsed by their family. World Liberty Financial, which is preparing to launch its own competing crypto wallet that offers yield-generating opportunities, has taken issue with the branding and unauthorized use of the Trump name.

Evidence of the ongoing dispute could be seen in the inconsistent presence of the $TRUMP Wallet’s online properties. Its website, www.trumpwallet.com, has been intermittently accessible, and its associated X (formerly Twitter) account was suspended as of Thursday morning in New York.

Both Magic Eden and World Liberty declined to comment. Fight Fight Fight did not respond to media inquiries, and a White House spokesperson referred all questions back to World Liberty Financial.

Crypto wallets are essential tools in the industry, acting as portals for trading, earning, and managing digital assets. The Trump-branded projects are especially aimed at attracting his political base, many of whom are new entrants into the crypto space. Since its January debut, the Trump memecoin has reportedly generated over $300 million in transaction fees, according to data from Chainalysis. Fight Fight Fight and another affiliated company, CIC Digital LLC, reportedly hold 80% of the token supply, now valued at approximately $1.7 billion, according to CoinMarketCap.

In an effort to fuel growth and user engagement, Zanker has pushed the coin’s use in online commerce and hosted an exclusive event last month where Trump addressed major token holders.

The new wallet being developed by Fight Fight Fight has employed similar marketing strategies, including offering free memecoins to those joining the early access waitlist.

Trump’s broader crypto ambitions are also growing. World Liberty Financial, launched in 2024, has raised roughly $550 million through token sales and introduced a dollar-pegged stablecoin, USD1, which now boasts a market cap of $2.2 billion. Offering documents indicate that a Trump-affiliated firm earns 75% of net revenue from these tokens. Additionally, the Trump family owns 60% equity in World Liberty via their holding company, DT Marks DeFi LLC.

Although Trump was once skeptical of digital currencies, his entry into crypto was inspired by Zanker, who originally proposed launching NFTs bearing Trump’s image. Since then, the pair has released four NFT collections, using special events for token holders to garner support for Trump’s 2024 presidential campaign. Magic Eden has previously collaborated with Zanker on those NFT ventures as well.