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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Magic Eden Unveils TRUMP-Branded Crypto Wallet In New Partnership

Ronaldo Marquez
Ronaldo Marquez
1 month ago
3 mins read
TRUMP

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Magic Eden, a non-fungible token (NFT) marketplace, has announced a partnership with the team behind President Donald Trump’s memecoin to create an official “TRUMP-branded cryptocurrency wallet.” 

This new product, aptly named the TRUMP Wallet, will not only feature Trump’s likeness and name but will also support trading of the TRUMP token alongside other digital assets, including Bitcoin (BTC).

TRUMP Wallet Opens Waitlist Amid Controversy 

The waitlist for the TRUMP Wallet opened on Tuesday at TrumpWallet.com, with a broader launch expected later this summer, as confirmed by a spokesperson from Magic Eden. 

In a promotional push, the project is being marketed as “the first and only crypto wallet for true Trump fans,” enticing users with the opportunity to share in $1 million worth of the memecoin rewards. Those who sign up and refer friends will be able to enhance their position on the waitlist.

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Interestingly, Eric Trump, who has been involved in various cryptocurrency initiatives linked to his father, expressed surprise at the project. He took to social media platform X (formerly Twitter) to assert, “I run @Trump and I know nothing about this project!” In a follow up social media post, Eric further said:

This project is not authorized by @Trump. @MagicEden I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization. 

KYC Details Still Unclear

The announcement was shared by the official TrumpMeme account, but further details about the partnership, including terms of revenue-sharing and potential Know Your Customer (KYC) requirements for users, remain unclear. 

This initiative is part of a larger strategy to boost engagement in Trump-related cryptocurrency ventures, which have been gaining momentum in recent months. 

The Presidential family’s expanding crypto portfolio already encompasses a variety of digital assets, including non-fungible tokens, a stablecoin, a decentralized finance platform with its own virtual token, and memecoins named after both Donald Trump and the First Lady.

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Magic Eden’s CEO recently attended a fundraiser dinner hosted by Trump for previous winners of a TRUMP coin contest, further solidifying the ties between the two entities. It appears that the TRUMP Wallet will be built on the Slingshot Finance platform, a self-custodial trading application acquired by Magic Eden in April. 

Slingshot is known for featuring various meme tokens, such as Bonk Inu (BONK) and Fartcoin (FARTCOIN), and does not directly collect user identity information; instead, this is managed by MoonPay, the app’s fiat on-ramp provider.

TRUMP
The 1D chart shows TRUMP’s price trending downwards. Source: TRUMPUSDT on TradingView.com

When writing, the official memecoin launched by the President’s team trades at $11, recording losses of 12% and 21% on the seven and fourteen days time frame respectively. 

Featured image from NBC, chart from TradingView.com

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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