TRUMP team moves $17M in tokens to Bitgo custody
On May 11 the TRUMP allocation wallet sent 7 million TRUMP tokens (about $17.22M) into Bitgo custody via an intermediate address labeled 3S7zwP.
On May 11 the official TRUMP meme team allocation wallet transferred 7 million TRUMP tokens, valued at about $17.22 million, into Bitgo custody. Onchain records show the funds were routed through an intermediate address identified as 3S7zwP.
The allocation wallet first sent about 4.915 million TRUMP tokens to 3S7zwP, which then aggregated a total of 7 million before depositing them into Bitgo’s institutional custody. Bitgo provides multi-signature and cold-storage services for exchanges, funds and project teams.
Custody transfers do not automatically indicate a sale. Onchain history for the TRUMP token shows earlier transfers routed through Bitgo were followed by activity on trading venues.
In January 2025 team-controlled wallets sent roughly 9 million TRUMP tokens, worth about $31.45 million at the time, and another 6.97 million tokens, worth about $23.18 million, to Bitgo accounts.
TRUMP is a Solana-based meme coin that launched in January 2025, days before Donald Trump’s presidential inauguration. The token reached an early peak in 2025 and has since declined about 96% from that high. In recent weeks it traded between roughly $2.40 and $2.96.
About 80% of TRUMP’s total supply is held by Trump-affiliated entities and subject to a three-year vesting schedule. The vesting does not prevent periodic transfers of smaller tranches through custodians such as Bitgo.
U.S. Senators Elizabeth Warren, Adam Schiff and Richard Blumenthal opened inquiries into the TRUMP token, citing potential conflicts of interest and investor risk related to the tokenomics and team allocations. Onchain activity from allocation wallets has drawn scrutiny because concentrated insider holdings can influence market liquidity and price outcomes for retail holders.
At the time of the May transfer, bitcoin traded around $81,000 and sentiment across crypto markets was cautious.
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