Trump Team Moves $16M in TRUMP Tokens to Fireblocks Custody Wallets
President Trump's team has moved $16.91 million in TRUMP tokens to Fireblocks custody wallets, sparking concerns about potential sales or distributions of the memecoin.
The transfer, valued at $16.91 million, was made on July 25 and involves three Fireblocks addresses that have previously received and sent TRUMP tokens to BitGo. Arkham Intelligence noted that this movement could be connected to the distribution of TRUMP unlocks, but it does not show that tokens were sold or sent to an exchange.
The use of custody addresses has drawn attention due to a large share of the memecoin's supply remaining tied to insider-controlled wallets. According to crypto tools data, Trump's team could sell up to 96 million tokens, equivalent to 9.6% of the total supply and approximately 40% of the reported circulating supply.