Trump crypto feud heats up with cease-and-desist letter

World Liberty Financial, which the Trump family has a major stake in, sent the letter to Fight Fight Fight, the company responsible for the memecoin.

Tensions between the competing factions of Donald Trump’s ever-growing crypto empire are ramping up, with a company owned in part by the president’s sons sending a cease-and-desist letter to the organization behind his lucrative meme coin.

World Liberty Financial, which the Trump family has a major stake in, sent the letter to Fight Fight Fight, the company responsible for the memecoin, which is run by the president’s long-time friend and promoter, Bill Zanker, according to a person familiar with the matter who asked for anonymity, because the letter hasn’t been made public.

ADVERTISEMENT CONTINUE READING BELOW

The infighting started after Fight Fight Fight announced Tuesday that it is developing “$TRUMP Wallet,” which will let users trade and hold the meme coin and other digital assets. The company is working with the marketplace Magic Eden, which also got the cease-and-desist letter, the people said.

After the wallet promotions went up, Donald Trump Jr. quickly took to social media to slam it and Eric Trump wrote: “I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization.” The Trump-backed World Liberty Financial, has been readying its own wallet, which will let users earn yield on their tokens.

The evolving tensions were evident from the new wallet’s website and social media account, which have been taken up and down over the past few days. As of Thursday morning in New York, the website — www.trumpwallet.com — was back online but the account on X was suspended.

World Liberty and Magic Eden declined to comment. Fight Fight Fight didn’t return a request for comment about the cease-and-desist letter. A spokesperson for the White House deferred comment to World Liberty.

Trump Wallet@TrumpWalletAp

BIG NEWS! The Official $TRUMP WALLET is COMING SOON! The First and Only Crypto Wallet for True Trump Fans.

Join the FREE waitlist for a chance to get a share of $1 MILLION IN $TRUMP REWARDS! Go to trumpwallet.com/?ref=EFX5upz3w… NOW!

The $TRUMP Wallet is Powered by @MagicEden

Sent via Twitter for Android.

View original tweet.

Wallets have traditionally acted as a gateway into crypto trading, lending and other functions. Many successful crypto wallets also run their own crypto exchanges and offer a slew of other services. Both projects are vying for the attention of Trump fans, many of whom are venturing into the volatile world of digital assets for the first time.

ADVERTISEMENT: CONTINUE READING BELOW

The Zanker-linked company has been integral to building the Trump family’s crypto wealth. In January, Fight Fight Fight launched the Trump memecoin, which has, since then, generated more than $300 million in fees for the owners, according to data firm Chainalysis. Fight Fight Fight and another Trump affiliate, CIC Digital LLC, retained 80% of the token supply. Their memecoins are currently worth about $1.7 billion, according to crypto tracker CoinMarketCap.com.

To boost usage and interest, Zanker has pushed for the token’s use in e-commerce and, more notably, organized a controversial dinner last month just outside Washington where Trump spoke to some of the token’s largest holders.

The upcoming wallet is using similar tactics to win over users. The website and social media accounts advertised a memecoin giveaway for people who signed up for a waiting list for the wallet.

Trump and his sons launched World Liberty last year and it is part of their growing network of crypto businesses, which includes a new Bitcoin mining project.

World Liberty Financial has raised about $550 million in token sales, and also issued its own stablecoin, USD1. The token, which is pegged to the dollar, has a $2.2 billion market value, according to CoinMarketCap.com. A company affiliated with Trump receives 75% of net revenue as a fee, including proceeds of the token sales, according to offering documents. The Trump family owns 60% of the equity share of World Liberty through their company DT Marks DeFi LLC.

A one-time crypto skeptic, Trump initially entered the industry thanks to Zanker, who has said he come up with the idea of issuing nonfungible tokens with Trump’s name and likeness. Trump and Zanker have since sold four collections of NFTs, and leveraged dinners for NFT holders to ensure support from the crypto industry for Trump’s second presidential campaign. Magic Eden has worked with Zanker on the Trump NFTs.

© 2025 Bloomberg

Follow Moneyweb’s in-depth finance and business news on WhatsApp here.