A pair of developments have placed the intersection of politics and cryptocurrency under renewed scrutiny. The Trump Organization has disavowed any connection to a new digital wallet project branded as the “$TRUMP Wallet,” even as promotional efforts linked it to the president’s broader crypto ecosystem. At the same time, National Economic Council Director Kevin Hassett, a senior White House official involved in shaping crypto regulation, disclosed holdings in Coinbase worth up to $5 million—fueling concerns over potential conflicts of interest within the administration’s digital asset policymaking. Trump Organization Disavows 'TRUMP Wallet' as Crypto Chaos Deepens The Trump Organization has publicly distanced itself from a new cryptocurrency wallet project bearing the US President’s name, adding another chapter to the increasingly tangled saga of “Trump-branded” crypto ventures. The controversy erupted after promotional material and social media posts claimed the imminent launch of the “$TRUMP Wallet”, purportedly backed by crypto marketplace Magic Eden and tied to the team behind Trump-related meme coins. Despite the wallet's overt branding and association with Trump-themed digital assets, a spokesperson for the Trump Organization firmly denied any link to the initiative. “The Trump Organization knows nothing about this project,” the representative said, flatly contradicting claims circulating in the crypto community. The official website for the $TRUMP Wallet is live, albeit barebones. It promises users the ability to store and trade digital assets, but lacks essential components like a whitepaper, developer documentation, or a defined launch timeline. A waitlist feature is available, indicating the project is seeking early adopters ahead of its release. Further complicating matters, Magic Eden CEO Jack Lu appeared to confirm the wallet's development in a post on X, saying the marketplace is involved alongside GetTrumpMemes.com, a website linked to the Trump meme coin. However, the nature of this collaboration and whether it includes official endorsement from the Trump family remains unclear. An X post from the account associated with the meme coin also insisted the wallet is “coming soon,” even as denials from Trump family members piled up. Trump Family: “We’re Not Involved” Donald Trump Jr., who has previously promoted his father’s crypto-related ventures, issued a direct denial via X, writing that the Trump Organization has “zero involvement with this wallet product.” However, he added that World Liberty Financial—a separate crypto venture closely associated with the Trump name—will be launching a wallet of its own “soon.” His post seemed to suggest there may be parallel crypto efforts within the broader Trump orbit, but not this one. Barron Trump, the youngest son of the president, also issued a statement distancing himself from the $TRUMP Wallet, reinforcing the family’s broader efforts to clamp down on unauthorized branding tied to their name. This is not the first time Trump’s name has been at the center of crypto drama. In recent years, a flurry of Trump-themed digital assets has entered the market, including Trump Coin, Melania Coin, and World Liberty Financial, a stablecoin project pitched as an alternative to US monetary policy. These projects have often attracted fervent communities of supporters—and just as many skeptics. Since reentering the political arena, Trump has embraced cryptocurrency with greater openness than during his first term. He has discussed the potential for Bitcoin to counter fiat inflation and has been critical of overregulation in the crypto sector. Yet, his camp has also repeatedly drawn a line between officially endorsed projects and opportunistic ventures capitalizing on his brand. The confusion surrounding the $TRUMP Wallet highlights a recurring issue in the meme coin and NFT era: the use of celebrity likenesses and brand names without formal licensing or authorization. The Trump family appears keen to enforce those boundaries, though the decentralized and fast-moving nature of the space often makes enforcement difficult. Market Reaction and Caution The emergence of the $TRUMP Wallet has created a ripple effect in crypto circles, with speculators buying into affiliated tokens and marketplaces seeing increased traffic. But with the Trump Organization and family disavowing any link to the project, crypto analysts are warning of a potential reputational and legal minefield. Magic Eden’s involvement, if substantiated, could bring added credibility, or scrutiny, to the situation. While the platform has been instrumental in the growth of Solana NFTs and meme coins, partnering with politically polarizing brands carries risk. Top White House Economic Adviser Kevin Hassett Reveals Up to $5M Stake in Coinbase, Sparking Conflict of Interest Concerns Amid the $TRUMP wallet confusion, Kevin Hassett, the director of the US National Economic Council (NEC) under President Trump , has disclosed personal holdings in cryptocurrency exchange Coinbase Global Inc. worth at least $1 million—and possibly as much as $5 million, according to financial documents reported by Bloomberg on Tuesday. The revelations are already stirring concerns over potential conflicts of interest, as Hassett plays a key role in shaping federal policy on digital assets. The Coinbase holdings, described in the filing as vested stock, were included in a broader disclosure of financial assets that total a minimum of $7.6 million. While the exact value remains uncertain due to the use of broad asset ranges in federal disclosures, the investment places Hassett among the most financially committed crypto advocates in senior US government positions. In addition to his equity stake, Hassett also reported a $50,001 salary from Coinbase for his service on the company’s Academic and Regulatory Advisory Council. This influential group brings together former top officials from the regulatory and intelligence communities, including ex-SEC Chair Jay Clayton and former CIA General Counsel Courtney Elwood, both of whom also maintain close ties to the Trump administration. The council was formed to help Coinbase navigate evolving regulatory challenges in the United States and abroad, providing strategic input on legal frameworks, public policy, and institutional trust. Although the disclosure clearly outlines Hassett’s relationship with Coinbase, Bloomberg notes that there is no indication yet whether he is required—or intends—to divest from his holdings as he oversees economic policies that could impact the crypto industry directly. Crypto Advocacy Inside the Trump Administration Hassett’s reemergence as a powerful economic voice coincides with President Trump’s increasingly pro-crypto stance during his second term. After previously expressing skepticism toward Bitcoin and other cryptocurrencies, Trump has reversed course, touting blockchain innovation as a pillar of US economic leadership. Following the president’s executive order on digital assets, the National Economic Council formed a Digital Asset Market Working Group, tasked with crafting regulatory proposals, supporting US-based crypto firms, and ensuring “technological sovereignty” in the digital age. Hassett has reportedly played a key role in steering the group’s direction, particularly in its efforts to align the SEC, CFTC, and Treasury Department on a cohesive digital asset policy. The group’s recommendations are expected to include frameworks for stablecoin issuance, DeFi compliance mechanisms, and guidelines for centralized exchange operations—many of which could affect Coinbase directly. Hassett’s deep entanglement with Coinbase has raised eyebrows among ethics watchdogs and policy analysts, who argue that his personal financial interests could influence regulatory recommendations, or at the very least, create the appearance of favoritism toward Coinbase. Others have pointed out that Hassett’s relationship with crypto extends far beyond his advisory role at Coinbase. Before returning to the White House, he also sat on the advisory council of One River Digital Asset Management, a hedge fund heavily invested in crypto and known for onboarding high-profile government officials such as Clayton and Elwood. Political Dimensions of Crypto Regulation The revelations surrounding Hassett’s financial disclosures come amid growing political momentum for cryptocurrency and blockchain innovation in the US. With both Republicans and Democrats showing increased willingness to engage the sector, though from vastly different angles, crypto is rapidly becoming a defining economic and technological issue heading into the 2026 midterms. While Trump has pitched crypto as a cornerstone of US economic independence and innovation, his administration faces ongoing pressure to avoid regulatory capture and demonstrate policy neutrality. Hassett’s stake in Coinbase, critics say, makes that harder to guarantee. Still, supporters of the current NEC director argue that his experience in the crypto space makes him uniquely qualified to guide policy decisions that balance innovation and consumer protection. As the White House finalizes its digital asset strategy in the months ahead, all eyes will be on Hassett and his ability to navigate competing interests—his own, those of the industry, and the broader public good. Whether he ultimately chooses to divest from Coinbase may serve as a key litmus test for the administration’s broader commitment to transparent and fair policymaking in an era where money, politics, and technology are becoming increasingly intertwined.