Trump Memecoin Wallets Withdraw $94M USDC to Coinbase Wallets

TLDR

• $94M USDC withdrawn from TRUMP liquidity pools in December.
• $33M moved on Dec. 30 via Fireblocks to Coinbase wallets.
• TRUMP token plunged 90% from $75 high to under $5.
• Insiders gained over $320M in trading and liquidity fees.

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

The most recent transfer occurred on December 30, when $33 million USDC was withdrawn from TRUMP liquidity pools and routed through Fireblocks to Coinbase-linked wallets.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

TRUMP’s Decline from Peak Performance

The transfers conclude a volatile year for the TRUMP token, which launched on January 18, 2025, just before the U.S. presidential inauguration. The token reached an all-time high of $75.35 on January 19 but has since dropped to below $5, reflecting a decline of nearly 90%.

Despite the sharp price drop, insiders reportedly earned over $320 million in fees tied to liquidity and transaction structures. According to CoinMarketCap data, trading volume fell sharply after the token’s midyear peak, leaving many late entrants with losses while a handful of wallets accumulated large stablecoin reserves.

Movement Raises Transparency Questions

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

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

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

Memecoin Market Faces Widespread Losses

The TRUMP token’s decline mirrors broader weakness across the memecoin sector in 2025. Leading tokens such as Dogecoin, Shiba Inu, and Pepe retained large market caps but ended the year well below their previous highs.

A long list of Solana- and Ethereum-based memecoins, including those themed around elections and public figures, suffered deep drawdowns of up to 90%. Many of these tokens saw steep post-launch collapses and thin exit liquidity by year-end, reflecting waning speculative demand after an overheated first half of 2025.

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