World Liberty Financial (WLFI), a crypto firm tied to the Trump family, has issued a cease-and-desist letter to Fight Fight Fight LLC – the company behind the $TRUMP memecoin and the recently announced $TRUMP Wallet. The letter also names Magic Eden, which partnered in the wallet’s development, according to Bloomberg.
The move follows a wave of public denials from Donald Trump Jr. and other family members, who stated that neither the Trump Organization nor WLFI had any involvement with the wallet. WLFI is currently developing its own Trump-branded crypto wallet, which it says will be the only official product.
Read also: $TRUMP Wallet Launch Sparks Confusion After Family Denies Involvement
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Background
The conflict began earlier this week when a website launched promoting the “Official $TRUMP Wallet by President Trump,” backed by Magic Eden and the TRUMP token team. The site offered a waitlist, a multi-asset wallet interface, and a $1 million TRUMP token referral contest. Hours later, the Trump family distanced themselves, stating they had no knowledge or affiliation with the project.
Fight Fight Fight LLC is led by Bill Zanker, a longtime Trump associate. The company has a license to use Trump’s name for NFTs and memecoins and was involved in launching the TRUMP token earlier this year. However, WLFI, which the Trump family advises and partly owns, says it did not authorize the wallet and is preparing legal action.
Market Reaction
Following news of the cease-and-desist, the $TRUMP token fell below $10, and is currently down over 12% past week.
Magic Eden’s ME token also dropped, reaching new all-time low yesterday. Meanwhile, the TrumpWallet.com website was taken offline.
What Comes Next
While both WLFI and Fight Fight Fight maintain ties to Trump’s brand, their projects now appear to be in direct competition. The legal challenge signals that WLFI intends to assert sole control over Trump-branded crypto platforms going forward.
The Trump family’s official wallet through WLFI has not yet launched, but Donald Trump Jr. confirmed it is on the way. Whether Fight Fight Fight will back down – or pursue a legal defense – remains to be seen.
