The Trump token, a coin based in Solana affiliated with the Trump brand, again faced with the controversy.
The Lookonchain channel analysis platform reported that the Trump tokens team had discreetly removed $ 4.6 million from USDC from its liquidity pool just 13 hours ago.
These funds were then filled from Solana to Ethereum and deposited in Coinbase Prime, a brokerage service often used by institutional investors.
Although the elimination of liquidity does not automatically point out a malicious intention, it has raised a considerable concern, especially since it coincides with the next unlocking 40 million Trump tokens worth more than $ 320 million.
These tokens, held by entities that would have been linked to the Trump organization, should start to unlock on April 17, with daily outings planned for the next two years.
Anxiety is added to the anxiety of volatility of the Trump token. It is negotiated at $ 8.01, up 0.2% in the last 24 hours and down 30% in the last 30 days.
Although still increasing by more than 83% compared to its historic hollow of $ 4.29, it is a steep fall in its summit of $ 73.43.
Red flags in chain and increasing suspicion of traders
This last development is not an isolated incident but is part of a longer channel of events that have eroded confidence in the Trump token.
Earlier in January, a viral Twitter thread began to dissect the Trump token project, accusing it of being one of the most elaborate crypto prints in history.
The thread describes several red flags: activity of erratic developer, distribution of bizarre tokens and suspicious behavior of the portfolio.
According to this analysis, the main development portfolio used to deploy Trump was surprised buying various pumping tokens shortly after launch without discernible reason.
Even more disturbing, 80% of the Trump token supply was found in a single portfolio without an identifiable owner. This means that a centralized entity with total control can come out at any time.
A more in -depth investigation revealed that several portfolios would be linked to the Trump team, sold millions of Trump tokens without ever buying them.
These portfolios seemed to be part of the basic team. A portfolio would have recorded $ 18 million alone.
Trump Family Web3 Ambitions Add fuel to fire
A fortune report on April 15 coincides with this drama of liquidity, which reveals that the Trump family ventures more deeply in the web 3.
According to sources, they prepare to launch a game on the theme of the blockchain on the theme of real estate inspired by Monopoly Go!.
The game should be posted later this month and is led by Trump Zanker’s long-standing partner.
The mechanisms will mix cryptographic elements with a monopoly style gameplay, allowing players to win tokens in the game thanks to a building development based on the blockchain.
The new game is only part of the broader ambitions of the Trump family. Under the aegis of a company called World Liberty Financial Financial, launched before the 2024 US elections, the family acquired digital assets like Ethereum and Tron while promoting various DEFI services.
Although these services remain largely not applied, public archives indicate that 75% of the project net revenues go to a company linked to Trump.
The Trump family is deeply rooted in the project, with Donald Jr., Eric and Barron listed as an official “web3” advisers.
Given the interconnected nature of the memes play, the next real estate game and the financial companies linked to Trump, the recent elimination of liquidity of $ 4.6 million seems even more worrying.
Critics argue that the Trump brand is used to deal with potentially exploiting projects, where initiates must gain massively at the expense of retail investors.
The post is Trump Token about to crash? The developers quietly remove $ 4.6 million USDC from the liquidity swimming pool first appeared on Cryptonews.