Onchain analysts tracking the Official Trump (TRUMP) memecoin on Solana have flagged large transfers from wallets labeled as parts of the “Official Trump Meme” cluster moving about $94 million in USDC from TRUMP liquidity pools over the past month.
The most recent movement, highlighted by blockchain data platform Arkham, involved 33 million USDC (USDC) being withdrawn from liquidity on Tuesday and sent to an entity labeled Fireblocks, which then routed funds to wallets labeled as belonging to Coinbase.
Public Solana records on Solscan corroborate the large USDC outflows from TRUMP‑linked wallets.
A brutal year for TRUMP
The transfers put an end to an extraordinary year for TRUMP, which launched on Jan. 18, shortly before the president’s inauguration on Jan. 20. it surged to an all-time high of $75.35 on Jan. 19, before steadily unwinding those gains over the rest of the year, according to CoinMarketCap.
The token is now trading below $5, down almost 90% from its peak levels, leaving late entrants with heavy losses even as the token’s design and trading fees have generated more than $320 million fees for insiders and related entities.
Related: Trump memecoin team denies $300K dinner requirement rumors
Political branding and rising oversight
Onchain flows alone cannot prove who ultimately controls every labeled wallet in the Trump meme cluster or why funds were moved via Fireblocks toward Coinbase. The transfers could reflect treasury operations, tax planning or offchain obligations.
For a politically branded asset whose marketing leans on alignment with the sitting US president, however, repeated large liquidity withdrawals and stablecoin transfers by project‑linked addresses naturally draw scrutiny.
Democratic Party lawmakers formally asked the US Treasury Department to detail Trump’s crypto ventures and related financial arrangements earlier this year, highlighting the level of political scrutiny surrounding the project.
Related: Memecoins go from Christmas cheer to cold reality, sinking 65% in a year
Memecoins’ painful 2025
The broader memecoin market context in 2025 makes public attention even more acute. Flagship memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) retained significant market capitalizations but ended the year well below their local highs, while a long tail of smaller Solana and Ethereum-based memecoins, including election‑themed and personality‑driven tokens, saw parabolic runs, followed by 80%–90% drawdowns and increasingly thin exit liquidity.
Cointelegraph reached out to the TRUMP memecoin team via the project’s official website to clarify the nature and purpose of the recent USDC transfers. At the time of publication, the team had not responded to questions.
