The team behind President Donald Trump’s crypto operations reportedly sent nearly a hundred million dollars worth of the TRUMP meme token to digital asset exchanges.
According to blockchain analytics firm Arkham, Trump’s team has so far sent $92 million worth of TRUMP to crypto exchanges
Arkham notes that the Trump team locked up 80% of the supply, with 10% reserved to provide liquidity and another 10% planned for public distribution.
“100 million TRUMP was sent to the TRUMP Liquidity Provider, which added liquidity on Meteora.
8tKLhRyFC3RsQ41APTqKdzr9DdeGqV2RtRgSjVgsY4xb
another 10% was split between three wallets:
Initial TRUMP Deployer (kept 14 million TRUMP)
5e2qRc1DNEXmyxP8qwPwJhRWjef7usLyi7v5xjqLr5G7
TRUMP Team Wallet 1 (received 56 million TRUMP)
2Fe47zbh8svDNGNehFy1NY8bsjQNtomvKFuq1jNgWSkv
TRUMP Team Wallet 2 (received 30 million TRUMP)
7qtDv72fGzuuGmyg1FkTxBybYH2sXkUd6u8WXwnkRnpE”
Arkham says that just hours after the official announcement of TRUMP from the President’s social media, two of the three Trump team wallets began sending coins to crypto exchanges – presumably to sell on the open market.
“The TRUMP team has also sent [$92] million of TRUMP tokens to exchanges, including Bybit and Kucoin. This has occurred from TRUMP Team Wallet 1 and TRUMP Team Wallet 2.
They waited for seven hours after Trump’s tweet to begin sending coins to exchanges.”
At time of writing, TRUMP is trading for $61 at a fully diluted valuation (FDV) of $61 billion.
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