Donald Trump Jr. denies The Trump Organization’s involvement with the rumored crypto wallet, while TMTG officially partners with Magic Eden and Slingshot Finance.

The $TRUMP token sees volatility amid wallet launch news, with institutional interest in Bitcoin strategies continuing to grow.

Clearing out the rumors circulating about the Official Wallet in Development and concerns raised by an unaffiliated site, Donald Trump Jr. has confirmed that The Trump Organization has zero involvement with this wallet product, claiming that they know nothing about it.

Initially, despite reports suggesting that The Trump Organization is developing an official cryptocurrency wallet aimed at providing supporters with a secure platform to manage and trade Trump-themed digital assets, Donald Trump Jr. clarified in a recent tweet from his personal X account:

The Trump Organization has zero involvement with this wallet product. @EricTrump and I know nothing about it. Stay tuned—World Liberty Financial @worldlibertyfi, which we have been working tirelessly on, will be launching our official wallet soon. https://t.co/h1wO7dy6AX

— Donald Trump Jr. (@DonaldJTrumpJr) June 3, 2025

Partnership with Magic Eden and Slingshot Finance

In line with previous Crypto News Flash (CNF) reports, it is Trump Media & Technology Group (TMTG) — the company behind Truth Social — that is making a bold move into the world of cryptocurrency.

The development of the official wallet is reportedly in collaboration with Magic Eden, a prominent NFT marketplace, and Slingshot Finance, a mobile-first crypto trading platform.

This partnership aims to expand Trump Media & Technology Group’s presence in the digital asset space, following previous ventures like the Trump Cards NFTcollection.

$TRUMP Token Performance and Market Context

The $TRUMP token experienced a brief surge, reaching nearly $12 following news of the wallet launch, but has since stabilized around $11.5.

In addition, according to previous CNF highlight, Eric Trump has hinted at growing institutional demand, with many firms seeking to establish a Bitcoin Treasury strategy.

This fluctuation reflects the broader volatility in the cryptocurrency market, where investor sentiment can shift rapidly based on news and developments.

Bitcoin Market Overview

At the time of writing, Bitcoin (BTC) is trading at approximately $105,726, showing a slight decrease of 0.41% over the past 24 hours.

The cryptocurrency market remains dynamic, with prices influenced by various factors including regulatory news, technological advancements, and macroeconomic indicators. See the BTC price chart below.

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Filed under: Bitcoin - @ June 4, 2025 3:25 am