Ripple CTO David Schwartz tags TRUMP wallet launch “bizarre,” noting Eric Trump’s denial of the Trump Organization’s role despite ties to FightFightFight LLC.
Yesterday, David Schwartz, the Chief Technology Officer of Ripple, described the circumstances surrounding the launch of the Trump wallet as “bizarre.” After the initial reports of the TRUMP coin crypto wallet and trading platform going live, Donald Trump Jr., who is the head of Trump Media and World Liberty Financial, dismissed them as “fake news.”
Nevertheless, Schwartz observed that the wallet launch announcement was actually made by the platform that introduced the Official Trump Coin in January. The crypto community is still uncertain whether this is a genuine deception or a fabricated launch.
Ripple CTO Questions Confusion Regarding Trump Wallet Announcement
The introduction of the TRUMP Coin wallet has been the subject of conflicting claims, which has prompted Ripple CTO David Schwartz to express his apprehension. Schwartz disclosed several significant connections to members of the Trump family in a message posted on the X platform, stating, “This is a very bizarre situation.”.
Schwartz observed that the Trump meme coin initiative was the subject of a joint announcement by prominent platforms such as Magic Eden and TrumpMeme. Nevertheless, the Trump Organization’s involvement in the initiative has been publicly denied by Donald Trump Jr. and Eric Trump.
The Ripple CTO also emphasized that TrumpMeme is owned by FightFightFight LLC, which co-launched the official Trump coin in partnership with CIC Digital LLC, an entity affiliated with the Trump Organization.
“Were both accounts hacked to publish a fabricated announcement?” That is highly improbable. What is transpiring here? Schwartz commented.
Donald Trump Jr. Rejects Involvement
Donald Trump Jr. promptly clarified on social media that neither he nor the Trump Organization are affiliated with a wallet product that was recently announced when the news broke yesterday. He asserted that “The Trump Organization has no involvement with this wallet product” and that “Eric Trump and I are unaware of its existence.” Such announcements could cause significant volatility, given the Donald Trump family’s increasing involvement in cryptocurrency.
Eric Trump also cautioned the Magic Eden platform against making such disclosures in a similar message. Eric composed the following:
“This project is not authorized by The Trump Organization. Magic Eden I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization”.
Eric Trump declared his intention to pursue legal action against projects that exploit the Trump name without proper authorization, according to a report in the New York Times. Intriguingly, this development occurs concurrently with the submission of a filing by Trump’s media company, Truth Social, to introduce spot Bitcoin ETFs on NYSE Arca.
