Wallets linked to the TRUMP memecoin team withdrew roughly $94 million in USDC from liquidity pools during December, according to onchain data.
Blockchain analysts tracking the Official Trump memecoin on Solana flagged the movements as unusually large.
Data from Arkham showed the wallets were labelled as part of the “Official Trump Meme” cluster.
The most recent transfer involved around $33 million in USDC.
Arkham data showed the funds were first sent to an entity labelled Fireblocks.
The USDC was then routed onwards to wallets identified as belonging to Coinbase.
Public Solana blockchain records on Solscan confirmed the scale of the USDC outflows.
Analysts said the activity marked the end of a turbulent year for the TRUMP token.
TRUMP launched on 18 January shortly before the president’s inauguration.
The token surged rapidly to an all-time high of $75.35 the day before the inauguration.
After peaking, TRUMP steadily declined throughout the year.
The token is now trading below $5, representing a drop of nearly 90% from its peak.
Late investors suffered heavy losses as prices continued to unwind.
Despite price declines, insiders generated more than $320 million in fees.
The fees were linked to the token’s design and trading activity.
Analysts noted that onchain data alone cannot prove ultimate wallet ownership.
They said the transfers could reflect treasury management or tax planning.
Routing funds through Fireblocks and Coinbase may relate to offchain obligations.
The political branding of the token has increased scrutiny of wallet activity.
Large liquidity withdrawals naturally attract attention for politically linked assets.
Democratic lawmakers earlier asked the US Treasury to review Trump crypto ventures.
The request highlighted growing political oversight of the project.
The broader memecoin market struggled throughout 2025.
Major memecoins ended the year well below local highs.
Smaller Solana and Ethereum memecoins saw sharp rallies followed by deep drawdowns.
Cointelegraph said it contacted the TRUMP team for comment.
No response had been received at the time of publication.
At the time of reporting, Official Trump price was $4.80.