Trump Team Moves Another $16.9M in TRUMP Memecoin to Bitgo as Total Hits $172M
Onchain data has flagged a significant movement as the wallet tied to the Trump team’s TRUMP token allocation transferred an additional 10.84 million tokens, worth $16.91 million, to the custodian Bitgo. This latest transaction extends a consistent pattern of large-scale transfers that has seen the total volume reach a staggering $172 million in just five months.
This strategic shift toward Bitgo highlights an increasing reliance on institutional-grade custody for the TRUMP memecoin. By moving massive amounts of tokens into professional custody, the team appears to be prioritizing asset security and liquidity management, a move closely monitored by blockchain analytics platforms like Lookonchain.
Blockchain analytics platform Lookonchain reported that the official Trump team allocation wallet sent 10.84 million TRUMP tokens, valued at approximately $16.91 million, to Bitgo on July 25. This movement follows a recurring pattern of transferring large sums to secure custody.
In total, the cumulative amount moved to Bitgo has hit $172 million over the last five months. This ongoing trend suggests a concerted effort by the Trump team to institutionalize the management of their TRUMP memecoin allocation, ensuring higher security standards for their significant token holdings.
This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.
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