A crypto project led by Trump's sons (World Liberty Financial,., WLF) recently sent a legal cease-and-desist letter to Bill Zanker's Fight Fight Fight company, demanding they stop collaborating with the Non-Fungible Token platform Magic Eden to launch an unauthorized "TRUMP Wallet".
According to the report, the WLF crypto project formally sent a cease-and-desist letter to Bill Zanker's Fight Eden Fight Fight Fight Fight alleging infringement. The reason was that Fight Fight Fight collaborated collaborated with the Non-Fungible Token platform Magic Eden to launch a "Trump crypto wallet and app", claiming it was the only official wallet, which subsequently drew strong dissatisfaction from Trump's sons. The eldest son, Donald Trump Jr., immediately stated on X (Twitter): "The Trump organization has absolutely nothing to do with this wallet product." The second sonThe Eric Trump was even more direct: "Do not abuse our name, this plan was not approved by us!" The legal letter was also sent to Magic. After the news was exposed, the wallet website was temporarily taken down, and its X (account Twitter account was suspended. Bill Zanker is actually Trump's earliest "crypto guide", establishing Fight Fight Fight company and launching the TRUMP Token in early 2024, with a market value now approaching $2 billion. Zanker and another Trump family-related enterprise, CIC Digital LLC, retain 80% of the token supply. To actively promote it, a marketing, Zannot only launched TRUMP for e-commerce payments but also also also a Trump Token dinner with Trump himself attending, entertaining large token holders, including TRON founder Justin Sun and Vincent Liu, director of Taiwan crypto trading platform Kronos Research. Facing Zanker's preemptive positioning, the Trump crypto project WLFI has also laid out extensive plans. WLFI has raised approximately $590 million through token sales and issued a USD-pegged stablecoin USD1, with a current market value of nearly $2.2 billion. According to public documents, Trump family members own about 60% of WLF Holdco LLC's shares through an entity called DT Marks DeFi LLC. The document states: - They can receive 75% of net proceeds from WLFI governance token sales. - They can also receive 60% of profits from overall WLF operations.
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Not only that, they are preparing to launch their own wallet service, focusing on earning interest on USD1, which is completely different from Zuckerberg's Trump crypto wallet.
WLFI's In-house Advisor Shorts TRUMP with 10x Leverage on Hyperliquid
After the TRUMP Wallet takedown controversy, WLFI project's in-house advisor ogle was exposed by on-chain analysis institution Lookonchain for depositing 1 million USDC on the decentralized exchange HyperLiquid and shorting Trump Token with 10x leverage, with a liquidation price of $12.49 per token.
Risk Warning
Cryptocurrency investment carries high risks, with potentially significant price volatility, and you may lose all your principal. Please carefully assess the risks.
High Global Remittance Costs? Uber Considers Introducing Stablecoin to Solve
As global enterprises' demand for cross-border fund transfer efficiency increases, Uber CEO Dara Khosrowshahi recently stated that the company is in the "research phase" and considering using stablecoins as a solution for global fund transfers. He discussed this potential innovation at the Bloomberg Tech Summit in San Francisco, noting that stablecoin technology is "very promising" for multinational companies like Uber.
Stablecoin: Practical Value Beyond Bitcoin
Khosrowshahi stated in the interview that stablecoins are not just investment targets for crypto, but have "actual uses". These digital assets are typically pegged to the US dollar or other fiat currencies and backed by cash or other asset reserves. He pointed out that this design helps reduce the cost of international fund flows, making it "quite attractive" for companies like Uber with large cross-border payment needs.
Uber Evaluating Feasibility of Introduction
Although no specific implementation timeline or partners have been announced, Khosrowshahi clearly stated: "This is very interesting to us, and we will absolutely dive deep into it." He emphasized that they are still in the "research phase", meaning more developments may be released in the coming months.
US Regulatory Steps for Stablecoin Accelerating
It is worth noting that the US Congress is currently actively promoting legislation for stablecoins, hoping to establish a more clear regulatory framework for these assets. The legality and compliance of stablecoins will directly affect the adoption willingness of large tech and financial enterprises. Therefore, Uber's interest in stablecoins may also be closely related to policy developments.
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Risk Warning
Crypto investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
