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Eric Trump announced that the highly-anticipated Trump-branded crypto wallet will no longer be launched as originally planned. The decision arises from a recent clash involving the president’s sons and the World Liberty Financial project, which is also endorsed by Donald Trump.

The controversy unfolded when World Liberty Financial issued a cease and desist letter to the GetTrumpMemes team. Eric Trump then communicated on X, formerly known as Twitter, that while the Trump meme wallet development has been halted, the focus remains on making the TRUMP meme coin a standout in the crypto ecosystem. He highlighted that the TRUMP coin has now formed an alliance with World Liberty Financial.

Eric Trump further disclosed that World Liberty Financial intends to make a significant investment in the TRUMP meme coin as part of its long-term treasury plans. He shared the larger vision encompassing patriotism, crypto advancements, and sustainable growth for the project.

Besides the disrupted wallet plans, the Trump family, including Barron and Donald Trump Jr., emphasized that they were not affiliated with the wallet product. This statement came after the GetTrumpMemes team’s website went offline following the World Liberty Financial’s legal warning.

The Trump family has been significantly involved in the cryptocurrency space, which has considerably boosted Donald Trump's net worth. Since venturing into Web3 with an NFT collection in 2022, they have launched various projects, including the official Trump meme coin in January and the decentralized finance platform, World Liberty Financial, increasing the Trump family’s crypto portfolio.

Despite the family's crypto ventures accumulating substantial wealth—making up about 40% of President Trump's estimated net worth of $2.9 billion—they have faced criticism. Observers and lawmakers have pointed out the potential conflict of interest, accusing the Trumps of promoting pro-crypto policies for personal gain. However, Trump’s administration has consistently dismissed these allegations.