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A recent announcement on Tuesday about a new cryptocurrency venture seemingly endorsed by former President Trump has created a stir, revealing internal conflicts within the Trump family's digital currency activities. The controversy involves a flashy new website claiming the launch of “the Official $TRUMP Wallet,” with purported backing by a business called Magic Eden. This new venture is advertised as a trading app designed for digital currency transactions.

However, the reaction from Trump’s sons was swift and critical. Donald Trump Jr. publicly stated on the social media platform X that the Trump family business is not associated with this new crypto product. His brother, Eric Trump, echoed these sentiments by asserting he had no knowledge of it. Even Barron Trump, the youngest of the Trump sons, took to social media to clarify that the family had "zero involvement" in the venture.

This division aligns with the family's growing, yet fragmented, engagement in the crypto space. On one end stands Bill Zanker, a long-term business associate of Donald Trump and the mastermind behind Trump’s memecoin. On the other side are Trump’s sons, founders of World Liberty Financial, a separate digital currency business boasting sales of $550 million.

The discord intensified when Eric Trump declared the family’s intention to challenge the creation of "the Official $TRUMP Wallet" legally. He stressed that there was no deal or approval for this product, despite it being actively promoted on social media linked to Zanker.

Mr. Zanker has not responded to the claims, but the official X account for the memecoin confirmed the wallet announcement late Tuesday, with similar affirmations from Magic Eden’s X account.

The genesis of the conflict appears to revolve around overlapping business ambitions. Donald Trump Jr. disclosed that World Liberty Financial is gearing up to introduce a similar digital wallet product, illustrating the tangled web of Trump crypto initiatives.

The skirmish highlights the quick expansion of the Trump family's involvement in the burgeoning crypto market. Their engagement has paralleled President Trump's deregulatory moves within the industry, spurring speculation that cryptocurrencies might soon play a significant role in the U.S. financial system.