The Transfers, in Order
Last week, onchain sleuths reported that a $TRUMP team address had moved out 11.25 million tokens, worth $26 million, on Sept. 7, and that 3.25 million (of that amount) had already landed on OKX.
On Sept. 21, it added another 2.75 million, bringing its two-day total to 6 million $TRUMP, or $12.59 million.
Here is the sequence, pulled from the chain:
- Sept. 18: The distribution wallet splits tokens into two intermediate wallets. Within hours, 3.25 million $TRUMP moves on to OKX-linked deposit addresses in a string of transfers.
- Sept. 20: A fresh 2.75 million $TRUMP goes from the distribution wallet to a third OKX-linked address.
- Sept. 21, around 06:51 UTC: One intermediate wallet sends another 2 million $TRUMP in five transfers of 300,000 to 473,278 tokens, emptying itself.
- Sept. 21, 08:56 UTC: The second intermediate wallet sends 400,000 more to the same deposit address it used on Sept. 18.
That adds up to 8.4 million $TRUMP in four days. The second wallet still holds 1.6 million tokens, the only part of the batch not yet at an exchange.
Where Did the Tokens Come From?
The first OKX transfer landed on the same day as a scheduled unlock of 28.7 million $TRUMP, or 2.9% of supply. That release is one of 34 planned through December 2027, part of a plan to release roughly 80% of supply that was locked at launch.
The OKX run also follows a well-worn pattern, as on Aug. 23, the team sent two batches worth a reported $21.7 million to OKX. The following day, it raised $3.39 million in USDC over 10 hours by seeding one-sided liquidity pools and letting buyers swap in. In May, it shifted $17 million in $TRUMP to Bitgo custody.
By early September, more than $150 million in $TRUMP-linked tokens had reached exchanges since April.
A Coin Down 97%, Selling Into a Green Day
$TRUMP is changing hands near $2.13 at press time, up about 6% in 24 hours but down about 25% over 30 days and 97% below its $73.43 peak from January 2025. It opened 2026 at $4.80, so it has lost more than half its value this year alone.
At the same time, bitcoin’s price has surged close to $85,000, lifting memecoins along with it. A green day with deep order books is the easiest time to sell 2.4 million tokens without crashing the chart. Whether the team uses that window, or simply parks the coins, will show up in OKX’s order flow rather than onchain.
Lastly, the politics surrounding Trump and his crypto affiliations haven’t gone away either, with U.S. Senators Elizabeth Warren and Richard Blumenthal asking the Securities and Exchange Commission (SEC) to investigate the token last month. They cited reports that nearly 1 million buyers lost $3.81 billion while Trump-linked entities collected $636 million. Consumer group Public Citizen puts losses across Trump-linked crypto ventures at $4.7 billion.
