The team behind President Donald Trump’s crypto operations allegedly sent nearly a hundred million dollars worth of TRUMP meme token to digital asset exchanges.
According to blockchain analytics firm Arkham, Trump’s team has so far sent $92 million worth of TRUMP to crypto exchanges.
Arkham notes that the Trump team has blocked 80% of the supply, with 10% earmarked for liquidity provision and an additional 10% planned for public distribution.
“100 million TRUMP was sent to liquidity provider TRUMP, which added liquidity on Meteora.
8tKLhRyFC3RsQ41APTqKdzr9DdeGqV2RtRgSjVgsY4xb
An additional 10% was distributed between three portfolios:
Initial deployer of TRUMP (retained 14 million TRUMP)
5e2qRc1DNEXmyxP8qwPwJhRWjef7usLyi7v5xjqLr5G7
TRUMP Team Wallet 1 (received 56 million TRUMP)
2Fe47zbh8svDNGNehFy1NY8bsjQNtomvKFuq1jNgWSkv
TRUMP Team Wallet 2 (received 30 million TRUMP)
7qtDv72fGzuuGmyg1FkTxBybYH2sXkUd6u8WXwnkRnpE”
Arkham says that just hours after TRUMP’s official announcement on the president’s social media, two of Team Trump’s three wallets began sending coins to crypto exchanges – presumably to sell them on the open market.
“The TRUMP team also sent ($92 million) worth of TRUMP tokens to exchanges including Bybit and Kucoin. This happened with TRUMP Team Wallet 1 and TRUMP Team Wallet 2.
They waited seven hours after Trump’s tweet to start sending coins to the exchanges.”
At the time of writing, TRUMP is trading at $61 for a fully diluted valuation (FDV) of $61 billion.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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