A decentralized finance (DeFi) platform backed by the Trump family is reportedly sending a cease and desist order to a firm over an unauthorized crypto wallet.
According to a new report by Bloomberg, World Liberty Financial (WLFI) recently sent the letter to Fight Fight Fight LLC, the same company that created the Official Trump (TRUMP) memecoin.
The report says that the firm and the non-fungible token (NFT) marketplace Magic Eden are collaborating to create an unauthorized crypto wallet featuring Trump’s brand.
TrumpWallet.com, the website advertised as the waitlist for the crypto wallet, is no longer working at time of writing.
Earlier this week, Donald Trump Jr. announced on social media that the Trump organization has nothing to do with this project and that they know nothing about it, adding that WLFI will be launching its official crypto wallet soon.
“The Trump Organization has zero involvement with this wallet product. Eric Trump and I know nothing about it. Stay tuned – World Liberty Financial, which we have been working tirelessly on, will be launching our official wallet soon.”
WLFI launched late last year as a means of spreading the dominance of the US dollar and helping those disenfranchised by the banking system. Previously, Trump Jr said the family explored crypto after they were debanked in New York for political reasons.
“The reason we got into crypto and we’re all in on crypto and we’re doing American Bitcoin and we have World Liberty Finance and [the stablecoin] USD1 was because there was a time… where I could call any single banker in New York City, they’d pick up the phone [and] I’d be able to get a loan for whatever real estate project I was doing across the street.
Then we got into politics, and all of a sudden, they wouldn’t take your call. You couldn’t get financing. We were debanked.”
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