Just in: World Liberty Financial Sends Cease-and-Desist Letter To TRUMP Coin Creators
Highlights
- World Liberty Financial's cease-and-desist threatens $TRUMP Wallet launch.
- Trump memecoin drops 10% after cease-and-desist, down 87% from its January high of $75.35.
- Trump family-backed World Liberty raises $550M, plans yield-earning wallet to rival $TRUMP Wallet.
World Liberty Financial, a company partially owned by Donald Trump’s sons, has issued a cease-and-desist letter to Fight Fight Fight, the company behind the popular Trump-themed memecoin.
This legal action follows the announcement of a new digital wallet named “$TRUMP Wallet,” which Fight Fight Fight is developing to allow users to trade and hold the Trump meme coin and other digital assets.
World Liberty Financial Cease-and-Desist Letter To Fight Fight Fight
According to a Bloomberg report, World Liberty Financial sent the letter in response to Fight Fight Fight’s plans to release the $TRUMP Wallet. The wallet will allow users to store and manage the memecoin, which has generated significant attention in the crypto world.
Meanwhile the World Liberty Financial, backed by Donald Trump, has already prepared its own digital wallet that will only add to the competition between the two projects.
To promote the wallet, Fight Fight Fight has partnered with Magic Eden, a popular marketplace. As a result, these projects have raised concerns regarding their future and Magic Eden received the cease-and-desist letter too. Despite the lack of a public statement from Fight Fight Fight, World Liberty Financial has said that it is developing a wallet with additional features, including yield earning on tokens.
Trump Family Response to Wallet Launch
The dispute gained traction after Donald Trump Jr. and Eric Trump expressed concerns on X. Donald Trump Jr. criticized the development of the $TRUMP Wallet, while Eric Trump issued a statement warning users about engaging with the wallet.
“I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization,” he stated.
The involvement of the Trump family in World Liberty Financial just adds another layer to what is becoming a bustling Trump-themed crypto space. These two companies are trying to appeal to Trump supporters, many of whom are playing around with digital assets for the first time. Launched in January, the Trump memecoin has seen its creators rake in over $300 million in fees, supporting growth of Trump crypto ventures.
A Growing Crypto Ecosystem and Market Opportunities
World Liberty Financial’s own wallet has seen some of its own issues, including being taken offline and having social media accounts suspended and then turned back on, briefly.
Unlike Fight Fight Fight’s project, this wallet is being positioned as a tool that allows users to earn yield on their holdings.
In addition to its wallet, World Liberty Financial has raised approximately $550 million from token sales and has issued a stablecoin, USD1, which is pegged to the U.S. dollar. World Liberty Financial is majority owned by the Trump family, giving them more control over the company’s crypto initiatives.
Fight Fight Fight’s Crypto Strategy
Fight Fight Fight is led by Bill Zanker, a longtime associate of Donald Trump and the man who helped get Trump-themed memecoin off the ground. The memecoin has since raised significantly in value, holding a large amount of the token’s supply between Fight Fight Fight and other Trump affiliates since its launch.
Zanker has also advocated to expand the usefulness of the Trump memecoin, as a means of broader adoption on e-commerce platforms. To push the $TRUMP Wallet, Zanker’s strategy is to utilize unique events and giveaways. Trump himself took part in a controversial dinner event outside Washington where he spoke to some of the meme coin’s biggest holders.
The event was designed to cement support for Trump’s second presidential run and to increase interest for the crypto project. After receiving the cease-and-desist letter, however, the Trump memecoin price has fallen by about 10%. Currently trading at $9.78, the Trump coin has plummeted about 87% from its January all–time high of $75.35.
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