Key Takeaways
- World Liberty Financial, partly owned by the Trump family, sent a cease-and-desist to Fight Fight Fight over the development of a $TRUMP Wallet.
- Fight Fight Fight launched the Trump memecoin in January, resulting in significant revenue and token value.
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World Liberty Financial, partly owned by the Trump family, sent a cease-and-desist letter to Fight Fight Fight, the company behind Trump’s meme coin, over a dispute involving a new crypto wallet, Bloomberg reported Thursday, citing a person familiar with the matter.
The conflict emerged after Fight Fight Fight announced earlier this week that it was developing an “Official $TRUMP Wallet” for trading and holding digital assets, in partnership with marketplace Magic Eden. Both companies received cease-and-desist letters.
Donald Trump Jr. criticized the wallet on social media, while Eric Trump wrote: “I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization.” World Liberty Financial has been developing its own wallet focused on token yield generation.
The wallet’s website and social media presence have fluctuated in recent days. While trumpwallet.com is currently online, its X account remains suspended.
Fight Fight Fight launched the Trump meme coin in January, generating over $300 million in fees for owners, according to data firm Chainalysis. Fight Fight Fight and CIC Digital LLC hold 80% of the token supply, currently valued at $1.7 billion according to CoinMarketCap.com.
World Liberty Financial has raised $550 million through token sales and issued USD1, a dollar-pegged stablecoin with a market value of $2.2 billion. A Trump-affiliated company receives 75% of net revenue as fees, including token sale proceeds. The Trump family owns 60% of World Liberty through DT Marks DeFi LLC.
This is a developing story.
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