On-chain data shows that the official allocation wallet linked to the TRUMP meme coin project transferred 7 million TRUMP tokens (worth approximately $17.22 million) to institutional custodian Bitgo on May 11, 2026. The transaction was routed through an intermediate wallet identified as 3S7zwP before reaching Bitgo's custody infrastructure.
Pattern of Large Transfers Raises Questions
This is not an isolated event. Records reveal a pattern of significant outflows from team-controlled wallets over the past year. In January 2025, the team sent about 9 million TRUMP (worth $31.45 million at the time) to Bitgo, followed by another 6.97 million TRUMP (worth $23.18 million). Sunday's transfer marks the latest chapter in what has become a recurring series of large-scale token movements. Bitgo, a leading institutional custodian known for multi-signature security and cold storage infrastructure, is commonly used by exchanges, funds, and project teams. While custody transfers do not automatically signal intent to sell, the timing and scale of these moves have historically preceded exchange-side activity for TRUMP.
Token Under Severe Pressure
TRUMP, a Solana-based meme coin launched in January 2025 days before Donald Trump's presidential inauguration, hit an early peak but has since cratered ~96%. It recently traded between $2.40 and $2.96. The steep decline has not deterred the project team from actively using its allocation wallet.
U.S. Lawmakers Investigate
The transfers have caught the attention of U.S. senators Elizabeth Warren, Adam Schiff, and Richard Blumenthal, who are probing the TRUMP token over concerns about conflicts of interest and financial risks to retail investors who may not understand the tokenomics or team allocation structure. Given that 80% of TRUMP's total supply is controlled by Trump-affiliated entities and subject to a three-year vesting period, any visible movement from the allocation wallets naturally raises concerns. The three-year lock does not prevent smaller tranches from flowing through custodians, and the repeated pattern of transfers from Bitgo to exchanges—as seen in prior transfers—has consistently weighed on price.
With Bitcoin trading around $81,000 and overall crypto sentiment cautious, private TRUMP holders face an asymmetric risk: a token already down 96% from its peak, while a well-funded insider wallet continues to move tokens through institutional channels.