22-6-205 – A whirlwind of intrigue has enveloped the Trump-themed TRUMP meme coin, as a wallet linked to the cryptocurrency executed a colossal transfer of 3.527 million tokens, valued at $32.8 million, to Binance on Friday, according to blockchain sleuths at Lookonchain. The transaction, cloaked in secrecy, unfolded just half an hour before it rippled through public awareness, intensifying speculation about the motives behind such a move. This was no isolated event—since April 28, wallets tied to the TRUMP team have shifted a staggering 12.54 million tokens, worth $150.68 million, across major exchanges like Binance, Coinbase, OKX, and Bybit in four calculated batches.
The latest transfer, originating from a wallet dubbed “Official Trump Meme? Squads Vault,” followed a labyrinthine path through an intermediary wallet before landing in Binance’s hot wallet. A smaller, almost teasing transfer of 189 TRUMP tokens—valued at a modest $1,760—preceded the heftier deposit, adding to the enigma. While no sales have been confirmed, such hefty inflows to centralised exchanges often signal an impending sell-off, stirring unease among traders wary of downward pressure on the token’s value. Just a day earlier, another mysterious whale shuttled $143 million in TRUMP coins to an unidentified wallet, further clouding the market’s outlook.
The TRUMP coin, buoyed by election-year fervour and meme-driven zeal, has seen its value soar in recent months. Yet, the spectre of liquidation looms large, with the scale of these transfers—most notably a $46.9 million movement across multiple exchanges on June 4—hinting at a strategy to capitalise on peak prices or mitigate risk. As investors brace for potential volatility, the transfers raise questions about whether this is a prelude to a broader sell-off or merely a tactical reshuffling of assets.
Amid the market turbulence, Eric Trump has stepped in to quell a brewing storm within the family’s burgeoning crypto empire. In a Friday post on X, he revealed that World Liberty Financial, a Trump family-backed crypto venture, plans to acquire a “substantial” stake in the TRUMP meme coin, aiming to stabilise relations after a reported feud. The announcement followed Bloomberg’s revelation of a cease-and-desist letter issued by World Liberty to Fight Fight Fight, the group behind the TRUMP coin, over its plans for a “$TRUMP Wallet.” The wallet’s development had sparked tensions, as it clashed with World Liberty’s own forthcoming digital wallet. A source close to the matter confirmed the letter’s existence, underscoring a fierce contest for control within Trump’s lucrative crypto domain.
Both the TRUMP coin and World Liberty Financial have drawn sharp criticism from Democratic lawmakers, who allege the projects serve as conduits for the Trump family to profit by leveraging political influence. The White House, alongside Eric and Donald Trump Jr., has firmly rejected these claims.
