Trump Jr. Denies Involvement in Launch of $TRUMP Crypto Wallet

Donald Trump Jr. has denied any involvement in the launch of **$TRUMP**, a new cryptocurrency wallet tied to the Trump name. The wallet, which surfaced recently, claims to be a "MAGA-inspired" crypto project, but Trump Jr. took to social media to clarify that he and his family have no connection to it. ### **Key Points:** - **Trump Jr.’s Statement**: He called the project a **"scam"** and warned supporters to avoid it, emphasizing that neither he nor his father, former President Donald Trump, are affiliated with the venture. - **$TRUMP Token’s Claims**: The project’s website and promotional materials suggested ties to the Trump family, leveraging the MAGA branding to attract investors. - **Crypto Scams & Political Figures**: This isn’t the first time a cryptocurrency has tried to capitalize on Trump’s name. Scammers frequently use celebrity and political branding to lure unsuspecting investors. ### **Background:** - **Official Trump Crypto Stance**: While Donald Trump has engaged with NFTs (launching his own **Trump Digital Trading Cards**), he has been critical of cryptocurrencies like Bitcoin in the past, though his stance has softened recently. - **Previous $TRUMP Tokens**: Other meme coins using the Trump name (e.g., **MAGA Coin**) have emerged, with mixed legitimacy. Some have been accused of being **"pump-and-dump" schemes**. ### **What to Watch:** - **Regulatory Scrutiny**: The SEC and other agencies may investigate if the $TRUMP wallet misled investors by implying Trump family involvement. - **Investor Caution**: Crypto investors should be wary of projects using political or celebrity names without verified endorsements. Trump Jr.’s swift disavowal highlights the risks of **celebrity-themed crypto projects**, many of which turn out to be fraudulent or short-lived. Always **DYOR (Do Your Own Research)** before investing.