Ripple CTO Breaks Silence on Controversial TRUMP Wallet
David Schwartz, the Chief Technology Officer of Ripple Labs, has finally broken his silence. And surprise, surprise, he’s not buying into the mainstream narrative that Donald Trump and his sons have no clue about the new TRUMP Wallet stirring up all this fuss.
On June 4, Schwartz took to X (formerly known as Twitter, because rebranding is always a good idea) to point out the curious connections between the Trump Organization and this crypto wallet drama. He also made it clear that it’s unlikely the Trump Organization’s account was hacked, as some people have speculated. Ah, the plot thickens.
The Ripple CTO Probe
Schwartz highlighted a post by GetTrumpMeme on X, where they, along with the Non-Fungible Token (NFT) marketplace Magic Eden, broke the news about the wallet. But, of course, Donald Trump Jr. and Eric Trump are having none of it, claiming that the Trump Organization has absolutely zero involvement. Classic family drama—right in front of the blockchain.
This is a very bizarre situation.
Both @magiceden and @GetTrumpMemes have posted this announcement, but Donald Trump Jr. and Eric Trump say the Trump Organization has zero involvement. But @GetTrumpMemes is owned by FightFightFight LLC which launched the official Trump coin and…
— David ‘JoelKatz’ Schwartz (@JoelKatz) June 4, 2025
Schwartz went further, revealing that GetTrumpMemes is owned by Fight Fight Fight LLC, the same company that launched the official Trump coin. And guess what? This company is co-owned by CIC Digital LLC, which is a part of the Trump Organization. So, let’s just say the connections here are, well, a bit too “coincidental” to ignore.
Now, Schwartz raised the possibility that both accounts could have been hacked to post the announcement. But in typical Schwartz fashion, he dismissed this theory with a dry “That seems very unlikely.” Ah, the confidence of a CTO.
Things took a turn for the weird when a flashy website popped up on Tuesday afternoon, claiming to announce the latest and greatest cryptocurrency venture backed by none other than the 47th President of the United States. Because who doesn’t want their own crypto coin, right?
The website boldly proclaimed that the developers behind the TRUMP meme coin are “working closely” with Magic Eden to launch the Official $TRUMP Wallet. Sounds official, doesn’t it? Except when Eric and Donald Trump Jr. immediately said, “Nope, not us!”
Eric Trump even went as far as to warn Magic Eden, telling them to stay away from using the Trump family’s name in any unauthorized projects. Seems like the Trump family isn’t on the same page here—what a surprise!
This project is not authorized by @Trump. @MagicEden 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 (@EricTrump) June 3, 2025
All this back-and-forth points to some serious family discord, or maybe it’s just some good old-fashioned competition. But one thing’s for sure: there’s a lot of money at stake here, and where there’s money, there’s drama.
But even after the Trump sons denied everything, an X account tied to the TRUMP Wallet (because that’s totally reassuring) posted a message saying the wallet is “coming soon.” So, who’s telling the truth here? You decide.
Magic Eden’s ME Token Rises 32% Amid Trump Wallet Talks
And now for the twist in the tale—because what’s a crypto story without a little market movement? The news about the Trump Wallet actually caused Magic Eden’s native token, ME, to skyrocket by nearly 32%. Yeah, because why wouldn’t people get excited about a wallet that may or may not have the Trump name on it?
ME’s price went from $0.80 to a high of $1.14, and the trading volume saw a mind-boggling 3,000% surge in just 24 hours. So, even if the wallet is just a rumor, some projects are clearly benefiting from the hype.
Welcome to the world of celebrity-backed crypto ventures, where clarity is optional, but profits sure do make things exciting. Until we get more answers about the TRUMP Wallet, rest assured that the speculation train will keep chugging along.
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2025-06-04 17:52