Eric Trump Denies Family Involvement of an Alleged Trump Wallet By Magic Eden (ME)

Monicah W

Donald Trump Breaks Silence on $TRUMP Token Profits

The post Eric Trump Denies Family Involvement of an Alleged Trump Wallet By Magic Eden (ME) appeared first on Coinpedia Fintech News

Magic Eden (ME), an established Solana (SOL)-based NFT marketplace, announced on Tuesday, during the mid-North American session, that it intends to launch a crypto wallet for Trump fans. According to an X post, Magic Eden announced that crypto enthusiasts can join the free waitlist for a chance to win a share of $1 million in $TRUMP. 

According to the official website for the trumpwallet powered by Magic Eden, the project partnered with the Official Trump memecoin, which is backed by U.S. President Donald Trump.

“Yes! This is the Official $TRUMP Wallet by President Trump. Magic Eden partnered with GetTrumpMemes.com to create the first and only $TRUMP Wallet. Have Fun,” the FAQ noted.

An Epic Denial From Eric Trump

As soon as the news for the Trumpwallet launch hit major headlines, Eric Trump, the Executive Vice President of the Trump Organization, announced that he knew nothing about such a partnership with Magic Eden.

The announcement created more confusion among the crypto community, with some accusing Magic Eden of orchestrating a large-scale scam.

Market Impact

Following the announcement, Magic Eden’s native token rallied over 28 percent to reach a daily local high of about $1.15. However, the ME’s rally was short-lived as the token retraced towards $1 at the time of this writing, following the denial announcement by Eric Trump.

The demand for ME tokens, nonetheless, experienced a sharp uptick as shown by its daily average trading volume, which hovered about $192 million compared to its market cap of around $154 million.

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March 21, 2025 05:59:26 UTC Chinese State Media Warns: USD Stablecoins Could Strengthen Dollar Hegemony Media aligned with the Communist Party of China has expressed concern that U.S. dollar-backed stablecoins could further cement the global dominance of the U.S. dollar, especially as they become more integrated into virtual economies. The commentary argues that stablecoins link …

Solana Launches New Tool for DeFi KYC and User Verification

The Solana Foundation has launched the Solana Attestation Service (SAS). This is a decentralized identity verification protocol designed to simplify compliance and enhance trust across the network.

Announced on May 23, the tool allows applications to validate off-chain data, such as Know Your Customer (KYC) checks and user accreditation. It does this without directly handling sensitive user information.

Solana Launches Identity Layer Amid Rising Global Crypto Interest

Solana Foundation said SAS introduces cryptographically signed, reusable credentials that trusted parties can issue. Once verified, users can seamlessly interact with multiple platforms without repeating onboarding or verification steps.

“SAS enables compliance, access control, reputation systems, and programmable identity across the Solana ecosystem. It’s a better, easier experience for both end users and builders,” the Solana Foundation stated.

This design removes the need for developers to maintain identity backends, significantly lowering the barrier for integrating compliance features.

According to the Foundation, SAS supports a wide range of use cases. These include DeFi compliance, access control in blockchain games, Sybil resistance in DAOs, and location-based verification for connected devices.

Builders can use the tool to enforce region-based restrictions, establish user uniqueness, and create programmable reputation systems.

SAS marks the first release from the newly established Solana Identity Group, a coalition of contributors including Civic, Solana.ID, Solid, Trusta Labs, and the Foundation itself. The group aims to develop privacy-preserving identity primitives tailored for the Web3 era.

Meanwhile, the launch comes amid rising interest from traditional finance in Solana’s infrastructure. Nzube Ezido, country lead for Solana Superteam NG, described SAS as a critical piece of the network’s evolving financial stack.

“This might be one of the most important primitives launched in a very long time. As we quickly ramp up on the capital market narrative, oracles that keep RWA in sync will need this to offer trust for on-chain to off-chain state,” Ezido stated.

Over the past months, several traditional financial institutions have been exploring the network’s potential for asset tokenization due to its speed, scalability, and low fees.

This is evidenced by the fact that R3—a blockchain infrastructure provider with over $10 billion in assets on its Corda platform—was partnering with Solana. The collaboration aims to onboard clients like HSBC and other major financial institutions to leverage the network’s features.

At the same time, Kraken, a major US-based exchange, announced plans to use Solana’s infrastructure to enable international trading of US-listed stocks.

Market observers said these collaborations reflect Solana’s growing role in bridging real-world finance and blockchain infrastructure.

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