Wallets tied to TRUMP memecoin team pull $94M USDC to Coinbase in December

1 hour ago

Onchain analysts tracking the Official Trump (TRUMP) memecoin connected Solana person flagged ample transfers from wallets labeled arsenic portion of the “Official Trump Meme” clump that moved astir 94 cardinal USDC from TRUMP liquidity pools implicit the past month.

The astir caller movement, highlighted by blockchain information level Arkham, progressive 33 cardinal USDC (USDC) being withdrawn from liquidity connected Dec. 30 and sent to an entity labeled Fireblocks, which past routed funds onto wallets labeled arsenic belonging to Coinbase.

Public Solana records connected Solscan corroborate the ample USDC outflows from TRUMP‑linked wallets.

A brutal twelvemonth for TRUMP

The transfers enactment an extremity to an bonzer twelvemonth for TRUMP, which launched connected Jan. 18, soon earlier the president’s inauguration connected Jan. 20. it surged to an all-time precocious of $75.35 connected Jan. 19, earlier steadily unwinding those gains implicit the remainder of the year, according to CoinMarketCap.

The token is present trading beneath $5, down astir 90% from its highest levels, leaving precocious entrants with dense losses adjacent arsenic the token’s plan and trading fees person generated much than $320 cardinal fees for insiders and related entities.

Political branding and rising oversight

Onchain flows unsocial cannot beryllium who yet controls each labeled wallet successful the Trump meme clump oregon wherefore funds were moved via Fireblocks toward Coinbase. The transfers could bespeak treasury operations, taxation planning, oregon off‑chain obligations.

For a politically branded plus whose selling leans connected alignment with the sitting US president, however, repeated ample liquidity withdrawals and stablecoin transfers by project‑linked addresses people gully scrutiny.

Democratic Party lawmakers formally asked the US Treasury Department to item Trump’s crypto ventures and related fiscal arrangements earlier this year, highlighting the level of governmental scrutiny surrounding the project.

Memecoins’ achy 2025

The broader memecoin marketplace discourse successful 2025 makes nationalist attraction adjacent much acute. Flagship memecoins specified arsenic Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) retained important marketplace capitalizations but ended the twelvemonth good beneath their section highs, portion a agelong process of smaller Solana and Ethereum-based memecoins, including election‑themed and personality‑driven tokens, saw parabolic runs, followed by 80%–90% drawdowns and progressively bladed exit liquidity.

Cointelegraph reached retired to the TRUMP memecoin squad via the project’s authoritative website to clarify the quality and intent of the caller USDC transfers. At the clip of publication, the squad had not responded to questions.

View source