On-chain analysts tracking the Official Trump (TRUMP) meme coin on Solana reported large transfers that moved approximately $94 million USDC from TRUMP’s liquidity pool over the past month from wallets labeled as part of the “Official Trump Meme” cluster.
Recent moves highlighted by blockchain data platform Arcam included $33 million USDC being withdrawn from liquidity on Tuesday and transferred to an entity labeled as Fireblocks, which then transferred the funds to a wallet labeled as belonging to Coinbase.
Public Solana records on Solscan confirm large-scale USDC outflows from wallets linked to TRUMP.
A rough year for Trump
According to CoinMarketCap, Trump was founded on January 18, just before he was inaugurated as president on January 20, and the move brings an end to an unusual year. Trump said the stock soared to an all-time high of $75.35 on January 19, before steadily reversing its gains over the rest of the period.
The token is now trading for less than $5, down almost 90% from its peak levels, and late entrants are sitting on heavy losses, even as the token’s design and trading fees have cost insiders and affiliates more than $320 million in fees.
Related: Trump Meme Coin Team Denies Rumors of $300,000 Dinner Request
Political branding and increased surveillance
On-chain flows alone cannot prove who ultimately controls all the labeled wallets in the Trump Meme Cluster or why the funds were moved to Coinbase via Fireblock. This transfer may reflect financial operations, tax planning, or off-chain obligations.
However, as the marketing of politically branded assets leans toward alignment with the sitting US president, repeated large-scale liquidity withdrawals and stablecoin transfers by addresses linked to the project are understandably subject to scrutiny.
Democratic lawmakers asked the U.S. Treasury Department earlier this year for detailed details of President Trump’s cryptocurrency venture and related financing, highlighting the level of political scrutiny surrounding the project.
Related: Meme coins fall 65% in one year from Christmas cheer to cold reality
A painful year for meme coins in 2025
The wider meme coin market situation in 2025 will attract more public attention. Leading meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) maintained significant market capitalization but ended the year well below their local highs, while the long tail of smaller meme coins based on Solana and Ethereum, including election-themed and personality-driven tokens, saw parabolic gains followed by 80%-90% drawdowns and increasingly thin exit liquidity.
Cointelegraph reached out to the TRUMP Meme Coin team through the project’s official website to clarify the nature and purpose of recent USDC transfers. As of this article’s publication, the team has not responded to questions.
