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Trump to launch branded crypto trading application
New crypto trading and wallet application, created in partnership with Magic Eden, invites fans of President Trump to buy his memecoin
The mockup of the $TRUMP Wallet on the waitlist website resembles the Slingshot Finance application somewhat, with identical navigation items showing trending cryptocurrencies and a leaderboard. ( Tweet) Self-custodial wallets and decentralized finance remain in somewhat of a regulatory vacuum, and draft cryptocurrency market structure legislation championed by the Trump administration and currently under discussion in Congress seeks to explicitly carve out defi from the remit of both the Securities and Exchange Commission and the Commodity Futures Trading Commission, the two primary regulatory agencies responsible for crypto markets. Slingshot’s terms and conditions prohibit users who reside in sanctioned countries, such as North Korea, Iran, and Russia, from using its app; however, without collecting KYC information, it’s not clear to what extent they successfully enforce these restrictions.
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