Charles EstherWorld Liberty Financial (WLFI), the cryptocurrency platform backed by US President Donald Trump and his family members, has issued a cease-and-desist letter to Fight Fight Fight LLC, the company behind a Bitcoin wallet linked to the Trump brand.
The letter, reported by Bloomberg on June 5, was sent after Fight Fight Fight LLC—owner of Gettrumpmemes.com and the issuer of the TRUMP memecoin—announced a waitlist for a crypto wallet featuring President Trump’s name.
Trump Organization Denies Involvement
Donald Trump Jr., the president’s eldest son and WLFI’s “Web3 ambassador,” clarified on June 3 that the Trump Organization had no involvement with the wallet project and said the group planned to launch its own wallet soon.
A source familiar with the situation, speaking anonymously, confirmed the cease-and-desist letter had not been made public at the time of the report.
Growing Scrutiny Over Trump’s Crypto Ventures
The move comes amid increasing scrutiny from US lawmakers and industry leaders about Trump’s cryptocurrency ventures, including his role in WLFI and its USD1 stablecoin, as well as the issuance of a personal memecoin that rewarded the top 220 holders with dinner invitations at Trump’s golf club.
At the time of publication, posts from Magic Eden and Gettrumpmemes announcing the wallet were still visible on X, but the TrumpWallet.com website, previously open for waitlist sign-ups, appeared to be offline following news of the cease-and-desist.
WLFI’s Fundraising and Stablecoin Launch
WLFI had raised approximately $550 million through two public token sales as of March.
The platform attracted further attention after launching its USD1 stablecoin, which an Abu Dhabi company planned to use to settle a $2 billion Binance investment.
The Trump family holds equity in WLFI and profits indirectly from transaction fees via a company connected to the president.
Congressional Concerns and Legislative Impact
Some Democrats in Congress have accused Trump of using his position to benefit financially from his crypto enterprises.
These allegations have raised concerns that they may delay or block the passage of digital asset legislation currently under consideration in both the House and Senate.
Proposed bills aim to establish frameworks for digital asset market structures and regulate payment stablecoins.
Response from WLFI
Cointelegraph reached out to a WLFI representative for comment but had not received a response by the time of publication.
