Wallets linked to the TRUMP team memecoin have transferred 94 million USDC to Coinbase in December.

On-chain analysts are monitoring the official TRUMP meme coin on Solana, who have detected large transfer transactions from wallets identified as belonging to “Official Trump Meme.” In just the past month, approximately $94 million USDC has been withdrawn from TRUMP liquidity pools.

The latest transaction, recorded by blockchain data platform Arkham, saw $33 million USDC withdrawn from liquidity on Tuesday and transferred to an entity named Fireblocks. Subsequently, the funds were further moved to wallets labeled as belonging to Coinbase exchange.

Source: ArkhamPublic data on Solscan has verified that a large amount of USDC has been withdrawn from wallets related to TRUMP.

A Year of Turmoil for TRUMP

These transfers have marked the end of a tumultuous year for TRUMP, this meme coin launched on January 18, just before the U.S. presidential inauguration on January 20. After reaching a historic peak of $75.35 on January 19, TRUMP’s price continuously plummeted throughout the rest of the year, according to Coinphoton statistics.

A Difficult Year for TRUMP | Source: CoinphotonCurrently, this token is trading below $5, down nearly 90% from its peak, causing many late investors to suffer significant losses. Nevertheless, the token’s design mechanism and transaction fees still generated over $320 million for insiders and related parties.

Political Branding and Increasing Scrutiny

On-chain flows cannot precisely identify the true owners of each wallet within the Trump meme cluster, nor the reasons behind transferring funds through Fireblocks to Coinbase. These transactions could stem from treasury management activities, tax planning, or other financial obligations outside the blockchain.

However, with a political-branded asset promoted based on its association with the current U.S. President, the ongoing large liquidity withdrawals and stablecoin transfers from project addresses are sure to attract attention and heightened scrutiny.

Previously, Democratic lawmakers officially requested the U.S. Department of the Treasury to clarify activities related to Trump’s cryptocurrency dealings and related financial arrangements, reflecting increasing political interest and oversight of this project.

The Challenging 2025 for the Meme Coin Market

The 2025 meme coin market landscape has further heightened public attention. Major meme coins like Dogecoin, Shiba Inu, and Pepe still maintain large market caps but all ended the year at significantly lower prices than their previous peaks. Meanwhile, numerous smaller meme coins on Solana and Ethereum, including election-themed or personal tokens, experienced sharp price surges followed by declines of 80% to 90%, leading to increasingly limited liquidity withdrawals.