- Eric Trump says WLF will buy a large share of the TRUMP token for its long term crypto treasury.
- The TRUMP token spiked after the news but quickly dropped to around ten dollars in the latest price check.
- The Trump family rejected an unauthorized wallet plan and confirmed plans for an official release through WLF.
Eric Trump announced that World Liberty Financial (WLF), the Trump family-backed crypto firm, will acquire a major stake in the Official Trump memecoin. The decision follows his endorsement of the coin earlier this week.
Shortly after the announcement, the TRUMP token saw a price increase of 6.40%. However, the price quickly fell to $10.42. According to CoinMarketCap, TRUMP ranks 45th by market capitalization, with a value of $2.03 billion. Despite the announcement, some in the crypto community questioned why the token did not record stronger gains.
Confusion Surrounding Wallet Launch
Earlier this week, Magic Eden and Fight Fight Fight LLC revealed plans to launch a new wallet for the TRUMP memecoin. The platform claimed users could trade TRUMP and other major cryptocurrencies. These included Bitcoin, Ethereum, Solana, Cardano, XRP, and Dogecoin.
However, the Trump family denied any involvement with the project. WLF then issued a cease-and-desist letter to the developers behind the proposed wallet. The Trump family stated that an official wallet would be launched separately under their platform. This conflict has created confusion in the market regarding the token’s future.
Eric Trump confirmed that the Trump Organization did not approve the previously announced wallet. He emphasized that World Liberty Financial would not move forward with any partnership involving unapproved platforms. This clarification came after public backlash and a reported cease-and-desist order from WLF.
Exclusive Meeting Held with Top Token Holders
On May 23, over 200 holders of the TRUMP token gathered at a private dinner. The meeting took place at the Trump family’s golf course in Virginia. The invite-only event served to acknowledge the top investors and boost community engagement. It signaled the token’s increasing influence within Trump’s political and business circles.
World Liberty Financial has confirmed its intention to accumulate a substantial amount of TRUMP for its long-term treasury. This move aligns with WLF’s broader strategy of incorporating political branding into decentralized finance. The firm also aims to support U.S.-themed crypto initiatives.
Additional Token Distribution from WLF
Earlier this week, WLF distributed USD1 stablecoins to wallets that participated in the WLFI token sale. Blockchain data from Lookonchain and SlowMist confirmed the distribution activity. This marks a continued effort by WLF to engage its growing user base.
Some investors remain skeptical about the recent developments. They noted the lack of a sustained price rally despite high-profile endorsements and token accumulation announcements. However, WLF has expressed continued support for the TRUMP token’s future.
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