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. I run @Trump and I know nothing about this project! @worldlibertyfi $Trump @AmericanBTC https://t.co/AnlQAKDcqf — Eric Trump (@EricTrump) June 3, 2025 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.
Ripple’s RLUSD stablecoin has secured regulatory approval from Dubai’s Financial Services Authority, signaling a significant milestone for XRP’s market potential. This approval enables RLUSD’s integration within the Dubai International Financial
Cryptocurrency analysis platform MakroVision has published a remarkable assessment of Bitcoin's recent price movements. The analysis noted that Bitcoin reached a new all-time high by rising to $112,000, and then entered a technically healthy correction process. MakroVision emphasized that the 61.8% Fibonacci resistance at $111,260 initially turned the price back, but this pullback is currently limited to around 5%. There are no signs of a sharp decline in the downward movement at the moment. Experts note that Bitcoin has found strong support at the following technical levels: $103,200: The 23.6% Fibonacci retracement level is currently holding successfully. $102,000: This level, which previously acted as resistance, is now a potential support area. $97,700: Coinciding with the 38.2% Fibonacci level, this area forms a strong support cluster along with $98,600. Related News: BREAKING: After Remaining Silent for a Long Time, Trump Makes His Move in Cryptocurrencies! And He's Not Stopping There—He's Partnering with a Surprise Altcoin According to MakroVision’s analysis, Bitcoin retesting $112,000 would reaffirm the market’s strength, with $121,100 the next target if this level is breached. However, in terms of downside risks, it is emphasized that Bitcoin is still structurally in an uptrend as long as it does not fall below $97,700. *This is not investment advice. Continue Reading: Where is Bitcoin Headed Next? Here Are the Levels to Watch for a Potential Rally
Coinbase is under heightened scrutiny following revelations that it may have known as early as January 2025 about a massive breach involving outsourced customer support agents, months before the crypto exchange publicly acknowledged the security lapse. Sources familiar with the situation disclosed that the breach stemmed from an India-based employee at TaskUs, a US outsourcing firm long contracted by Coinbase. The individual was reportedly caught covertly photographing her workstation and, along with an alleged accomplice, funneling sensitive customer information to cybercriminals in exchange for bribes. The incident triggered the termination of over 200 TaskUs employees in Indore, in what now appears to be a coordinated criminal infiltration of Coinbase’s support infrastructure. Delayed Breach Disclosure Although Coinbase later tied its $400 million loss to “support agents overseas,” the company waited until a May SEC filing, triggered by a ransom demand, to fully acknowledge the scope of the incident. The breach was not limited to a single rogue actor. According to internal accounts , it was part of a broader campaign that also targeted other BPO firms servicing Coinbase. The compromised data, which impacted more than 69,000 customers, was reportedly not sufficient to access Coinbase’s internal wallets but did let scammers convincingly impersonate Coinbase agents and socially engineer customers out of their crypto holdings. While Coinbase says it has reimbursed affected users, questions linger over the company’s timeline and transparency. TaskUs Accused of Negligence A class-action lawsuit now accuses TaskUs of negligence, suggesting the BPO provider failed to enforce appropriate data safeguards. TaskUs, however, denied the charge. Despite their assurances of strong training and security protocols, the incident raises deeper concerns about the vulnerabilities embedded in outsourcing sensitive customer interactions to low-wage, offshore workers. These workers, while cost-efficient, are often underpaid and undertrained. These conditions may have made them vulnerable to external coercion. Coinbase insists it acted decisively upon discovering the fraud, and cut ties with implicated agents as well as revamping its security measures. Despite this, the timeline points to potential lapses in internal threat detection and risk governance, particularly given that Coinbase’s own filings revealed unauthorized access occurring in “previous months.” The post Coinbase Data Breach: 69,000 Users Affected by Indian Outsourcing Leak appeared first on CryptoPotato .
A representative of the Trump Organization said the group “knows nothing” about a crypto wallet project called the “$TRUMP Wallet,” despite the app’s branding and claims being tied to the U.S. president. “The Trump Organization knows nothing about this project," a spokesperson for the Trump Organization told CoinDesk. The app, according to its sparse but live website, promises users the ability to hold and trade digital assets. It includes no technical documentation or launch timeline but features a waitlist for early access. Magic Eden, the crypto marketplace reportedly involved in the project, had confirmed the project through a post by its CEO Jack Lu on X. U.S. President Donald Trump has leaned into crypto since reentering the political arena ahead of last year's election. Past initiatives tied to Trump include World Liberty Financial, a stablecoin venture, and the meme tokens Trump Coin and Melania Coin, both of which launched before his 2025 inauguration. According to the wallet's website, Magic Eden is working with GetTrumpMemes.com, the website behind the Trump memecoin. Donald Trump Jr., one of the president's children, also said in an X post that the organization has "zero involvement with this wallet product," but that World Liberty will "soon" launch its own wallet. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy .
The foray into crypto has raised ethical questions.
U.S. stock markets demonstrated resilience as robust employment data overshadowed concerns raised by the OECD regarding the economic impact of ongoing trade tensions. The latest Job Openings and Labor Turnover
BlackRock signals $100T advisor interest in Bitcoin market as metrics point to an incoming institutional demand.
Kraken Prime, a new offering from global crypto exchange Kraken, has been officially launched to meet the rising needs of institutional crypto investors. The platform combines trading, custody, and financing services into one streamlined system. This move positions Kraken alongside major players like Coinbase Prime and FalconX in the expanding space of crypto prime brokerage. Single Platform to Handle Institutional Crypto Demands As revealed , the launch of Kraken Prime marks a major step in Kraken’s effort to serve institutions entering the digital asset space. The new service offers access to deep liquidity across over 20 global venues and covers over 90% of the digital asset market. Kraken Prime is designed to deliver a reliable experience that reflects the standards expected in traditional finance. According to Kraken’s co-CEO David Ripley, the platform combines execution quality, stable infrastructure, and a user-friendly experience. He mentioned that it is built specifically for asset managers, hedge funds, and corporate clients. These organizations often need round-the-clock service and strict compliance, and now they have a platform that meets those demands. Kraken Financial, a U.S. state-chartered bank, provides qualified custody for clients, allowing them to trade directly from secure holdings. The system also supports asset-backed lending and short-term credit, offering flexibility and speed for large-scale investors. Responding to Market Growth and Institutional Entry More institutions have shown interest in crypto in recent months, driven by improving regulations and better infrastructure. One way they strengthen their interests is by purchasing cryptocurrency. Recently, Strategy added 4,020 BTC, valued at approximately $427 million, to its balance sheet. Kraken Prime was developed with this trend in mind, targeting firms looking to expand their crypto strategy without the operational stress of managing multiple service providers. The platform is supported by a proprietary order-routing engine, allowing users to tap into both on-platform and off-platform liquidity. This makes it easier to carry out large transactions without delays or price slippage. With 24/7 white-glove support, clients can access help whenever needed. Kraken Expands Product Reach Ahead of IPO Plans Kraken Prime is one of many new projects from the exchange. Kraken recently introduced its Ethereum Layer 2 blockchain, increased its derivatives offerings in Europe, and is testing commission-free stock trading in the United States. The firm also announced plans to launch tokenized stock trading outside the U.S. In a major move, Kraken acquired NinjaTrader for $1.5 billion earlier this year to support its multi-asset-class strategy. The exchange reported $472 million in revenue in the first quarter of 2025 and is preparing for a possible initial public offering by early next year. Kraken’s latest launch shows its intention to compete in broader financial markets as well as crypto. The post Kraken Prime Launches Full-Service Platform for Institutional Investors appeared first on TheCoinrise.com .
Australia’s financial watchdog and federal police are warning that scams using crypto ATMs are draining wallets across the country. Between January 2024 and January 2025, 150 people filed unique reports with ReportCyber about crypto ATM scams , and those losses topped A$3.1 million (about US$2 million). Many older Australians are being targeted, and regulators are scrambling to put safer rules in place. Operators Face New Transaction Caps According to the Australian Transaction Reports and Analysis Centre (AUSTRAC), a new rule now limits cash deposits and withdrawals at crypto ATMs to A$5,000 (around US$3,250). Operators must also put up clear scam warning signs, keep a closer eye on every transaction, and step up checks on customers. These measures began on June 3. Right now, they only apply to ATM providers, but AUSTRAC says crypto exchanges should think about doing the same if they let people use cash to buy crypto . AUSTRAC CEO Brendan Thomas mentioned that these conditions will be watched closely and could change if they aren’t working as planned. Seniors At Higher Risk Based on reports from AUSTRAC’s task force, most people who use cash to buy crypto at ATMs are over 50, and about 72% of all transaction value comes from this older age group. It’s a big worry because many in their 60s and 70s end up as victims of scams. Scammers often tell them to send money to a crypto ATM to “prove” an investment or to recover stolen funds. Many victims don’t even realize they’ve been scammed until it’s too late. That’s partly why AUSTRAC wants stronger “know your customer” checks right at the kiosk. Public Reporting Remains Low AFP Commander Graeme Marshall says that a lot of people who lose money don’t report it. Sometimes they feel too embarrassed. Other times, they just don’t know how to get help. Marshall encouraged anyone who has been scammed to tell their family and friends about it. People need to share what happened so others won’t fall into the same trap. Right now, with 150 reports logged over 12 months, the Australian Federal Police (AFP ) thinks those numbers are just scratching the surface. They believe many more scams are happening without being recorded. Rising Number Of ATMs Australia used to have very few crypto ATMs—just 67 in August 2022. But by June 2025, that number had exploded to nearly 1,820. That makes Australia the third-largest market for these machines in the world. In a single year, almost 150,000 cash-based transactions went through, moving roughly A$275 million (about US$178 million) into Bitcoin, Ether, and various stablecoins. Private firms like Localcoin (753 machines), Coinflip (700), and Bitcoin Depot (182) lead the pack. With more ATMs popping up, there’s more chance for scammers to trick people, especially if operators aren’t watching closely. Featured image from Gemini, chart from TradingView