- Eric Trump announced that Trump family-backed World Liberty Financial (WLF) plans to acquire a substantial amount of the Official Trump (TRUMP) memecoin.
- The price of the TRUMP token rose 6.4% after the announcement but then settled at $10.10.
- The Official Trump memecoin is currently valued at about $2.03 billion and ranks as the 45th largest cryptocurrency by market cap.
- Eric Trump clarified that the Official Trump Wallet project is not authorized by the family and will not go forward.
- Recent partnerships and events, including a gathering of top TRUMP holders, have drawn attention to Trump-linked crypto initiatives.
Eric Trump, son of the former U.S. President, stated on June 6 that Trump family-supported World Liberty Financial (WLF) intends to purchase a significant number of Official Trump (TRUMP) memecoins for its long-term investment strategy.
Immediately following his announcement on X, the TRUMP token price climbed 6.4%. However, it soon retraced, trading at $10.10 at the time of reporting, based on data from CoinMarketCap. Official Trump is currently the 45th largest cryptocurrency by market capitalization, valued at approximately $2.03 billion.
Some members of the digital asset community expressed surprise that the price increase was not stronger. Crypto commentator Pluid posted on X that “The coin hasn’t pumped on this news – not a good sign at all.”
In May, the top 220 holders of the TRUMP token met at a Virginia golf course owned by the former president for an exclusive dinner and meet-and-greet event.
Eric Trump also addressed controversy over the launch of the Official Trump Wallet. He stated that the family does not support the project and will not move forward with its release. “Although their meme wallet isn’t moving forward, they remain focused on building the most exciting MEME on earth – $Trump,” he said. The controversy started after NFT marketplace Magic Eden and the TRUMP team announced plans for an “Official $TRUMP Wallet,” but Eric Trump responded that the initiative was unauthorized and warned Magic Eden against using the Trump name without approval.
Donald Trump Jr. later commented that the family’s crypto platform will launch its own official wallet soon.
At the Consensus conference in Toronto in May, Eric Trump spoke about growing interest in Bitcoin, claiming that “everybody in the world is trying to hoard Bitcoin right now.”
For further details on the TRUMP token, including price history, see CoinMarketCap.
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