Trump Meme Coin Team Withdraws $4.6M to Coinbase Ahead of $309M Token Unlock
A wallet associated with the creators of Donald Trump’s Solana meme coin withdrew $4.6 million in liquidity to a Coinbase Prime account. This occurred just before the project's first major token unlock, scheduled for Thursday, which will release 40 million TRUMP tokens worth approximately $309 million. The TRUMP token has decreased in value by 89% since its launch, currently priced at $7.73. The withdrawal's timing in relation to the token unlock remains unclear. The $4.6 million was converted from Solana to Ethereum and sent to Coinbase wallets. Following the initial unlock, an additional 760 million tokens will be released gradually, with a total supply of 1 billion expected by January 2028. Analysts predict increased sell pressure on the token due to the unlock, although the unique user base may react differently than typical crypto investors. Notably, 80% of the total token supply is allocated to the project's owners and creators.
