The creators of the Trump memecoin have moved $105 million worth of tokens to new wallets, raising questions amid increasing scrutiny of the former president's crypto dealings. The transactions, executed late Friday and early Saturday, involved $81 million worth of TRUMP tokens transferred to a Fireblocks custody wallet and nearly $24 million to an unmarked wallet. Fireblocks is known for crypto custody and asset sales on behalf of clients. The memecoin, which has plummeted 94% from its peak value, has seen significant token unlocks since its launch over a year ago. Of the one billion total tokens, 80% were reserved for Trump and his collaborators, with $2.1 billion worth of tokens unlocked for trading so far. The recent transfers are the largest since the token's inception, coinciding with legislative efforts to regulate the crypto market through the Clarity Act, which faces opposition from some Democrats due to concerns over Trump's potential profits from crypto.
Trump Memecoin Creators Transfer $105M in Tokens Amid Market Scrutiny
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