The post World Liberty Announces Strategic Acquisition of Official Trump ($TRUMP) and the Closure of Trump Meme Wallet appeared first on Coinpedia Fintech News
Eric Trump, the Executive Vice President of the Trump Organization, has announced a strategic partnership between the World Liberty Finance (WLFI) and the Official Trump ($TRUMP) memecoin. According to an X post on Friday, Eric announced that World Liberty Finance and the TRUMP meme project will align for mutual long-term success.
As a result of the strategic partnership, the TRUMP memecoin project agreed to halt the development of the planned meme wallet in collaboration with Magic Eden (ME). On the other hand, the World Liberty Finance team committed to a significant amount of TRUMP tokens for its long-term treasury management.
Market Impact of the Collaboration Between Trump Meme and World Liberty Finance
The announcement will have a detrimental midterm impact on Magic Eden (ME), which gained notable traction following the purported partnership to launch the Trump meme wallet. Already, ME price has obliterated all the gains made after the announcement earlier this week to trade at about $0.8435 on Friday, June 7 during the late North American session.
Meanwhile, TRUMP, a mid-cap memecoin that has a market cap of about $2 billion and a 24-hour average trading volume of about $796 million, has gained significant bullish sentiment.
The long-term support from World Liberty Finance will play a crucial role in the overall liquidity provision for the TRUMP memecoin project. As of this writing, the TRUMP meme price hovered about $10, up around 5 percent in the past 24 hours.