The mechanism behind the move
The team doesn't sell TRUMP directly on the open market. Instead, it deposits only TRUMP tokens into single-sided liquidity positions on Meteora, a Solana decentralized exchange. As traders swap within a set price range, the pool automatically converts TRUMP into USDC, which the team then withdraws and bridges to exchanges like Coinbase. LookOnChain first documented this exact mechanism in April 2025, when the team pulled $4.6 million in USDC from a pool, bridged it to Ethereum, and deposited it at Coinbase Prime.
A familiar wallet, a growing bill
The same wallet has been doing this for months. By December 2025, it had pulled $94 million in USDC over 30 days, with batches ranging from $2 million to $17.2 million moving into Fireblocks custody addresses linked to Coinbase, according to Arkham Intelligence. This week's $3.39 million pull is smaller, but it lands at a delicate moment for the token.
Retail holders have absorbed the worst of it. About 1 million TRUMP buyers are sitting on $3.81 billion in losses since launch. And the team has flagged plans to deploy up to 96 million tokens from its unlocked supply in the coming months.
What the pool depth says
Removing liquidity doesn't guarantee a price crash. It's the pool depth that absorbs the initial impact of a sell-off, not spot demand. But thinner pools leave the token more exposed to sharp swings, and that's exactly what these withdrawals do.
The rally that gave TRUMP a lift this week followed Trump's remarks at a White House crypto summit. Coinbase CEO Brian Armstrong called for a new crypto bull market days after that meeting. But the supply pressure from the team's withdrawals hasn't gone away, and with 96 million tokens potentially on the way, the next test
