Ripple CTO Highlights Connections in TRUMP Wallet Controversy
David Schwartz, CTO of Ripple Labs, questions the claims by Donald Trump Jr. and Eric Trump that the Trump Organization is not involved with the new TRUMP Wallet. He suggests that the accounts announcing the wallet may not have been hacked, as they are linked to Fight Fight Fight LLC, which launched the official Trump coin.
Key Points
- Schwartz highlighted posts from GetTrumpMeme and Magic Eden about the TRUMP Wallet.
- Both Trump sons denied any affiliation with the crypto wallet project.
- Eric Trump warned Magic Eden against using the Trump name without approval.
- The controversy indicates potential internal disagreements within Trump's crypto ventures.
- Despite denials, an account associated with TRUMP announced the wallet's upcoming launch.
Market Impact
The announcement led to a nearly 32% increase in Magic Eden's ME token price, rising from $0.80 to $1.14. Trading volume surged 3,000%, reaching $468 million.
Ongoing speculation around celebrity involvement in crypto projects may continue to influence market dynamics.