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Magic Eden, primarily recognized as a platform for buying and selling non-fungible tokens, has joined forces with the creators of President Donald Trump’s meme token to introduce an official cryptocurrency wallet named the $TRUMP Wallet.
This wallet will prominently display the president’s name and image and will enable transactions involving $TRUMP and other digital currencies, such as bitcoin.
A waitlist for the $TRUMP Wallet became available on Tuesday at TrumpWallet.com, with a wider launch expected later this summer, according to a spokesperson from Magic Eden.
Eric Trump, who has taken on key roles in several crypto projects associated with his father, stated that he was unaware of this new initiative.
“I manage @Trump and I have no information about this project! @worldlibertyfi $Trump @AmericanBTC,” he posted on social media platform X.
CNBC reached out to Magic Eden to get more details regarding Eric Trump’s statement.
CNBC also contacted the $TRUMP token team to inquire about the partnership’s specifics, potential revenue-sharing, and whether the wallet will require KYC (Know Your Customer) processes, but has not yet received a reply.
Marketed as “the first and only crypto wallet for true Trump fans,” the project was advertised on X with the incentive of sharing in $1 million worth of $TRUMP rewards. Those who register and refer others can advance on the waitlist, Magic Eden stated in a release to CNBC.
This gamified promotion represents the latest effort to attract investment into Trump-related crypto projects while reinforcing the former president’s increasing involvement in the cryptocurrency sector.
The family’s growing crypto asset collection includes NFTs, a stablecoin, a decentralized finance platform with its virtual currency, as well as meme tokens inspired by him and the First Lady. They also have plans for cryptocurrency exchange-traded funds via Truth Social’s new financial division, TruthFi.
Magic Eden, whose CEO recently attended a fundraising dinner hosted by the president for winners of an earlier $TRUMP coin contest, seems to be leveraging Slingshot Finance—a self-custodial trading app it acquired in April—to develop this wallet.
Slingshot’s platform supports meme tokens like BONK and FARTCOIN and does not directly collect user identity data. Instead, identity verifications are managed by MoonPay, the provider for fiat transactions.
It is still uncertain whether the wallet will implement its own KYC requirements or how profits and duties will be divided between Magic Eden and Trump-associated parties.
