- Eric Trump announced that World Liberty Financial (WLFI) will make a “substantial” purchase of Donald Trump’s TRUMP meme-coin and hold it long-term.
- The TRUMP coin currently trades at US$10.41 but has declined 8% this week and nearly 30% this month despite the announcement.
- WLFI previously made headlines for selling 5,471 ETH at a significant loss in April, after their Ethereum holdings had collapsed by up to 55%.
- The Trump family sent a cease-and-desist letter to stop an unauthorised $TRUMP Wallet, causing its website to go offline and social media accounts to be suspended.
Do meme-coins belong in a serious portfolio – even in that of a sitting US President? Well, Donald Trump and family certainly believe they do. Eric Trump just announced that World Liberty Financial (WLFI) will buy his father’s very own meme-coin, TRUMP, and HODL.
Trump’s son took to Crypto Twitter to say that the move was an alignment between the coin and WLFI.
This comes after WLFI made news with a wallet release, which “isn’t moving forward” for now. Eric Trump said that there will be a “substantial” purchase of the presidential Meme-Coin, though didn’t reveal any specifics.
The TRUMP coin currently trades for US$10.41 (AU$15.97), and, despite the announcement, is down 8 per cent over the past week and almost 30 per cent in the past month.
WLFI also holds Ethereum (ETH), Bitcoin (BTC), Tron (TRX) and some stablecoins in its portfolio. The project made headlines when WLFI sold 5,471 ETH at a substantial loss in April after buying over 67,498 ETH for US$210 million (AU$322.4 million).
The value of their ETH holding had collapsed as much as 55 per cent at the time of the sale.
Related: Institutional Bitcoin ETF Holdings Plunge 23% in Q1 2025 as Price Slides
Wallet Rumours Clarified by Trump Family
World Liberty Financial (WLFI), Donald Trump’s cryptocurrency company, last week sent a cease-and-desist letter to Fight Fight Fight LLC (the creators of the $TRUMP memecoin) to stop development of their unauthorised $TRUMP Wallet.
The wallet was being developed with NFT marketplace Magic Eden, which also received a legal warning. WLFI claims the wallet infringes on their exclusive rights to Trump-branded crypto products.
Following the legal action, the wallet’s website has gone offline and associated social media accounts have been suspended.
Read more: Bitcoin Faces $100k as Trump-Musk Spat Turns Ugly and HODLers Take Profit
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