The price of the Official Trump memecoin ($TRUMP) briefly spiked before pulling back, following a high-profile announcement by Eric Trump, son of President Donald Trump, on June 6. The younger Trump revealed that World Liberty Financial (WLF) — a Trump family-backed crypto venture — intends to acquire a substantial amount of the $TRUMP token for its long-term treasury.
“We’re proud to announce that World Liberty Financial plans to acquire a substantial position in $TRUMP for their Long-Term Treasury,” Eric Trump posted on X.
Breaking News: I am proud to announce the $TRUMP Meme Coin has aligned with @WorldLibertyFi. Although their meme wallet isn’t moving forward, they remain focused on building the most exciting MEME on earth – $Trump. Moreover, we’re proud to announce that World Liberty Financial…
— Eric Trump (@EricTrump) June 6, 2025
Minutes after the post, $TRUMP saw a 6.4% price jump, briefly pushing the token to $10.78, before retracing to $10.10 at the time of publication, according to CoinMarketCap. Despite the news, some market participants were left puzzled by the muted reaction, considering the token’s direct connection to the Trump name and the growing political spotlight on cryptocurrency.
Currently, $TRUMP ranks #45 in market capitalization, valued at $2.03 billion.
Eric Trump Backs Off Controversial Wallet Launch
Alongside the announcement, Eric Trump addressed the controversy surrounding the previously hyped Official Trump Wallet. Earlier this month, NFT marketplace Magic Eden and the $TRUMP team jointly promoted a wallet launch branded under the Trump name. However, Eric Trump quickly shut it down.
“Although their meme wallet isn’t moving forward, they remain focused on building the most exciting MEME on earth – $Trump,” he stated.
Eric also publicly warned Magic Eden against unauthorized use of the Trump brand, stressing that no one in their organization approved the wallet initiative.
Donald Trump Jr. later attempted to reassure supporters by confirming that a “proper official wallet” is still in development and will be launched directly under the Trump family’s oversight.
Crypto Community Reacts to Weak Market Response
Despite the strong family backing and upcoming acquisition by WLF, some crypto analysts and influencers expressed concern that the token “hasn’t pumped” more dramatically.
“The coin hasn’t pumped on this news – not a good sign at all,” commented crypto analyst Pluid on X.
The subdued market reaction follows an earlier surge in hype after a private event on May 23 hosted at President Donald Trump’s Virginia golf course, where the top 220 holders of the token met for a VIP dinner.
Eric Trump has increasingly positioned himself as a pro-crypto voice within the Trump family. At the Consensus 2024 conference in Toronto on May 15, he emphasized the global appetite for Bitcoin:
“From families to government funds, everybody in the world is trying to hoard Bitcoin right now.”
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
