WLFI issues cease and desist notice to creators of ‘Official Trump Wallet’

World Liberty Financial (WLFI), the crypto task associated with President Donald Trump and members of his family, has issued a cease-and-desist missive to the creators of a recently announced Trump-branded crypto wallet, Bloomberg News reported connected June 5, citing a idiosyncratic acquainted with the matter.

The letter, reportedly sent to Fight Fight Fight LLC, the institution down the Official TRUMP memecoin and the website GetTrumpMemes.com, came aft the steadfast unveiled plans for an “official Trump wallet” successful concern with Magic Eden.

Promotional posts and a sign-up page were launched earlier this week to physique a waitlist for the product. However, Donald Trump Jr., who serves arsenic a Web3 ambassador for WLFI, disavowed the project connected June 3.

Both him and Eric Trump issued nationalist statements that WLFI and the Trump Organization were not progressive successful the wallet and that an authoritative merchandise would travel straight from WLFI.

Branding battle

The unauthorized usage of Trump’s sanction and representation has highlighted increasing tensions betwixt parallel Web3 initiatives tied to the Trump brand, immoderate officially sanctioned, others not.

WLFI, which oversees projects specified arsenic the USD1 stablecoin and has offered perks similar backstage dinners for apical $TRUMP token holders, is aiming to formalize its beingness successful the abstraction up of broader merchandise launches.

Lawmakers person taken note, with respective Democratic members of Congress and the Senate voicing concerns astir the overlap betwixt Trump’s governmental relation and his increasing engagement successful the crypto assemblage successful caller weeks.

They pass that the commercialization of the presidency done integer assets could further politicize efforts to walk authorities connected stablecoins, tokens, and decentralized finance.

As of June 5, the domain antecedently utilized to beforehand the wallet, TrumpWallet.com, had been taken offline. However, societal media posts from Magic Eden and the memecoin squad promoting the task remained unrecorded arsenic of property time.

The cease-and-desist missive has not yet been made public, and WLFI has not issued an authoritative connection regarding imaginable ineligible action.

The station WLFI issues cease and desist announcement to creators of ‘Official Trump Wallet’ appeared archetypal connected CryptoSlate.