TLDR

  • $94 million in USDC was withdrawn from TRUMP liquidity pools in December.
  • $33 million was moved on December 30 via Fireblocks to Coinbase wallets.
  • The TRUMP token plummeted 90%, dropping from a $75 high to under $5.
  • Insiders earned over $320 million in trading and liquidity fees.

Wallets connected to the Official Trump (TRUMP) memecoin project on Solana transferred around $94 million in USD Coin (USDC) to Coinbase in December. These transactions, identified by on-chain analytics firm Arkham, involved multiple wallets labeled under the “” cluster.

The most recent transfer happened on December 30, when $33 million in USDC was withdrawn from TRUMP liquidity pools and routed through Fireblocks to Coinbase-linked wallets. Blockchain data from Solscan confirmed these large outflows, showing consistent withdrawals over several days.

TRUMP’s Decline from Peak Performance

These transfers cap off a volatile year for the , which launched on January 18, 2025, just before the U.S. presidential inauguration. The token hit an all-time high of $75.35 on January 19 but has since fallen to below $5, representing a nearly 90% decline.

Despite this steep price drop, insiders are reported to have earned over $320 million in fees tied to liquidity and transaction structures. According to data, trading volume dropped sharply after the token’s midyear peak, leaving many late investors with losses while a small number of wallets amassed large stablecoin reserves.

Movement Raises Transparency Questions

The purpose of the $94 million USDC movement remains unclear. Analysts suggest such transfers could be related to treasury management, tax planning, or off-chain settlement obligations. Fireblocks, a digital asset custody and transfer platform, was used to move the funds before they were deposited into Coinbase-identified addresses.

Arkham’s labeling does not confirm wallet ownership, but repeated liquidity withdrawals by addresses linked to the team have drawn public scrutiny. The project’s politically themed branding has made its financial activities a focus of ongoing interest among both traders and lawmakers.

Earlier this year, Democratic lawmakers asked the U.S. Treasury Department to release detailed information about Donald Trump’s crypto holdings and related ventures. The timing of these transfers has thus attracted extra attention. The TRUMP team did not respond to Cointelegraph’s request for comment.

Memecoin Market Faces Widespread Losses

The TRUMP token’s decline reflects broader weakness across the memecoin sector in 2025. Leading tokens like Dogecoin, Shiba Inu, and Pepe maintained large market caps but ended the year well below their prior highs.

A lengthy list of Solana- and Ethereum-based memecoins, including those themed around elections and public figures, suffered severe drawdowns of up to 90%. Many of these tokens saw steep post-launch collapses and limited exit liquidity by year-end, indicating a decrease in speculative demand following an overheated first half of 2025.