World Liberty Financial (WLFI), a company reportedly backed by Donald Trump's family, has issued a cease-and-desist letter regarding an "unauthorized" Trump-branded crypto wallet. The legal action targets Fight Fight Fight, the company behind the TRUMP memecoin, and Magic Eden, a digital marketplace, for their involvement in developing the wallet.

The conflict arose after Fight Fight Fight announced its plans to launch an "official $TRUMP Wallet" for trading and storing digital assets, in partnership with Magic Eden. This move triggered a swift response from the Trump family and their associated entities. WLFI's cease-and-desist letter accuses both Fight Fight Fight and Magic Eden of infringing on WLFI's rights concerning the Trump crypto brand.

Donald Trump Jr. was quick to distance the Trump Organization from the project, stating they had "zero involvement." He cautioned the crypto community about the "fake Trump wallet." Eric Trump echoed this sentiment, advising extreme caution when using their name on unapproved projects unknown to their organization. These statements were made via social media, further emphasizing the Trump family's disapproval.

WLFI has been reportedly developing its own crypto wallet focused on token yield generation. The company has apparently raised substantial capital through token sales, also issuing a dollar-pegged stablecoin.

Fight Fight Fight, led by Bill Zanker, a longtime friend and promoter of Donald Trump, launched the TRUMP memecoin in January. The memecoin has generated substantial fees for its owners. Fight Fight Fight and CIC Digital LLC reportedly hold a significant portion of the total TRUMP token supply.

The situation highlights the complexities surrounding branding digital assets associated with political figures. The legal clash underscores the importance of authorization and brand protection in the rapidly evolving crypto landscape. The incident also brought scrutiny to the involvement of Trump's associates in the crypto world.

Following the news of the cease-and-desist letter, the value of the TRUMP memecoin experienced a temporary decline. The incident also led to the suspension of the @TrumpWalletApp X account, further adding to the confusion and uncertainty surrounding the wallet project. The website offering waitlist sign-ups for the “official” Donald Trump crypto wallet appeared to be down.