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The TRUMP meme coin team has triggered alarm among investors after moving $19.6 million worth of tokens to major crypto exchanges, just days before a private dinner with Donald Trump for the token’s top 220 holders.
Lookonchain’s on-chain data shows that the team sent 1.35 million TRUMP tokens to Binance, OKX, and Bybit in the past 24 hours. The deposits landed the same week that $300 million in TRUMP tokens are set to be unlocked.
The team had previously told investors that the unlocked tokens would not be sold, but traders now fear a dump. Meanwhile, Democratic Senators Adam Schiff and Elizabeth Warren are calling for an ethics inquiry into the upcoming TRUMP dinner.
TRUMP Meme Coin Deposits Made Same Week As Massive Unlocks
The on-chain data cited by Lookonchain showed the majority of the tokens in the recent deposit were sent to Binance, with 700,000 TRUMP tokens sent to the leading centralized crypto exchange. Of the remaining tokens, 350,000 and 296,000 tokens were sent to OKX and Bybit, respectively.
While the move by the TRUMP token team could be for market making reasons, the timing of the deposits has traders on edge and bracing for a potential dump.
The tokens were sent in the same week that $300 million in tokens will be unlocked from vesting and daily locks, with $7.35 million in tokens expected to enter the crypto’s supply per day this week.
The deposits also come after the meme coin’s team assured investors that the unlocked tokens would not be sold.
The response and excitement over the competition to have "Dinner with President Trump" is amazing! We want to clarify a few things people seem to be confused by on X and in the Media.
-You need $300K+ to participate (You Don't)
-That we're unlocking into this competition (We're…— TrumpMeme (@GetTrumpMemes) April 24, 2025
Traders Brace For TRUMP Dump As Democrats Launch Inquiry Into Upcoming Dinner
The TRUMP tokens were also sent ahead of the upcoming dinner for the top 220 TRUMP meme coin holders on Sept. 5. One X user warned the tokens will likely be sold after the top holders have been finalized, while another warned of impending volatility.
When the deposits start, the real games usually aren't far behind. Watching closely
— Ryzz (@RyzzFi) April 29, 2025
While traders brace for a potential TRUMP selloff, US Senator Adam B. Schiff and Elizabeth Warren have launched an inquiry into the upcoming TRUMP holders’ dinner.
In a filing to the US Office of Government Ethics Director, the democratic lawmakers requested an “urgent inquiry” into the President’s invitation to top TRUMP holders, which caused the token’s capitalization to surge by $100 million.
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