A ‘real’ Trump Pockets struggle breaks out, World Liberty Monetary airdrops USD1 stablecoins, and Reality Social recordsdata for a Bitcoin ETF.
The Trump household’s crypto ventures are again within the highlight, with Reality Social submitting for a Bitcoin ETF, a stablecoin airdrop from World Liberty Monetary, and confusion surrounding an official Trump-branded crypto pockets.
The pockets confrontation started on June 3, when NFT market Magic Eden and the group behind the President’s official TRUMP memecoin introduced with nice fanfare that the Official $TRUMP pockets, powered by Magic Eden, was coming quickly. Magic Eden declared it “The First and Only Wallet for True Trump Fans.”
Which was all information to the Trump household, it appears. Barron Trump, Eric Trump and Donald Trump Jr. all declared on X that the Trump household and Trump Group have “zero involvement” with the pockets and knew nothing about it.
Eric Trump warned Magic Eden to “be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization,” whereas Trump Jr. stated that the Trump’s DeFi enterprise, World Liberty Monetary (WLFI), has been “working tirelessly” to launch its personal “official wallet soon.”
WLFI Stablecoin Airdrop
In the meantime, the World Liberty Monetary group has been airdropping $47 price of its USD1 stablecoin to all wallets that participated within the WLFI sale, Lookonchain revealed.
The stablecoin has seen early adoption, with its market capitalization taking pictures up previous $2 billion — probably due largely to an Abu Dhabi funding agency’s announcement that it could use the Trump stablecoin for its $2 billion funding in crypto trade Binance. The deal brought about USD1’s market cap to spike, but it surely additionally enraged Democrats who known as it outright corruption.
Which isn’t to say the stablecoin isn’t getting used. USD1’s 24-hour buying and selling quantity was nearly $225 million on June 4, in accordance to CoinGecko.
Trump-branded Bitcoin ETF
Rounding out the trifecta, inventory trade NYSE Arca filed an software to launch the Reality Social Bitcoin exchange-traded fund (ETF). The submitting was on behalf of Yorkville America Digital, a associate of Trump Media & Know-how Group, the proprietor of Reality Social.
Bloomberg senior ETF analyst Eric Balchunas famous that the proposed bitcoin ETF doesn’t have the Trump identify “on the ETF or anywhere in the docs, really.” He added that everybody is aware of who owns Reality Social, nonetheless.
