Onchain analytics platform Arkham recorded a series of large transactions from addresses belonging to the Official Trump Meme cluster. Throughout December, the project team pulled approximately $94 M in USDC stablecoins from Solana liquidity pools and routed the funds to Coinbase deposit addresses.
The latest tranche of $33 M USDC moved on December 30. The assets passed through the Fireblocks custody infrastructure before landing in Coinbase wallets. Solscan data confirms the capital outflows from addresses affiliated with the developers.
Onchain transfers alone do not reveal the ultimate beneficiaries and could be attributed to treasury operations or tax planning.
Context
Leveraging Donald Trump’s figure in the coin’s marketing naturally attracts increased regulatory scrutiny. Democratic lawmakers previously submitted an official request to the US Treasury Department for details regarding the President’s cryptocurrency operations and related financial arrangements.
Since the token’s launch, its price has plummeted by nearly 90%. TRUMP is currently trading below $5. While late investors are left with heavy losses, the token’s specific design and trading fees have generated profits exceeding $320 M for insiders and related entities.
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