TRUMP Memecoin Wallets Moved $94M USDC to Coinbase in December
Onchain analysts monitoring the Official Trump (TRUMP) memecoin on Solana reported substantial stablecoin movements in December, with wallets tagged as part of the “Official Trump Meme” cluster withdrawing about $94 million in USDC from TRUMP liquidity pools and directing the funds to Coinbase, according to Arkham.
The latest transfer, highlighted by Arkham, saw 33 million USDC removed from liquidity on Tuesday and sent to an entity labeled Fireblocks before being routed to wallets identified as belonging to Coinbase. Public Solana data on Solscan corroborates the significant USDC outflows from wallets linked to TRUMP.
TRUMP’s challenging year
The project launched on Jan. 18, shortly before the president’s inauguration on Jan. 20, and reached an all-time high of $75.35 on Jan. 19 before retracing those gains over the remainder of the year, per CoinMarketCap.
Arkham data shows Trump team withdrawals. Source: Arkham
The token is now trading below $5, down almost 90% from its peak. Despite the drawdown, the token’s structure and trading fees have generated more than $320 million in fees for insiders and related entities.
A savage year for TRUMP. Source: CoinMarketCap
Political branding and rising oversight
Onchain flows alone cannot conclusively determine who controls every labeled wallet in the Trump meme cluster or the rationale for moving funds via Fireblocks toward Coinbase. The transactions could reflect treasury activities, tax considerations, or offchain obligations.
For a politically branded asset whose promotion references alignment with the sitting U.S. president, recurring large liquidity withdrawals and stablecoin transfers by project-linked addresses have drawn attention. Earlier this year, Democratic Party lawmakers formally asked the U.S. Treasury Department to provide details on Trump’s crypto ventures and related financial arrangements, underscoring the level of scrutiny.
Memecoins’ painful 2025
In 2025, the broader memecoin segment remained volatile. Major tokens such as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) retained sizable market capitalizations but finished the year below local highs. Many smaller Solana- and Ethereum-based memecoins — including election-themed and personality-driven tokens — experienced parabolic rallies followed by 80%–90% declines and progressively thinner exit liquidity.
A request for comment was sent to the TRUMP memecoin team via the project’s official website to clarify the nature and purpose of the recent USDC transfers. No response had been received at the time of publication.
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