A massive token transfer by the team behind the TRUMP meme coin has reignited concerns about transparency

A massive token transfer by the team behind the TRUMP meme coin has reignited concerns about transparency

The massive token transfer by the team behind the TRUMP meme coin has reignited concerns about transparency, insider profits, and whether retail investors are being left behind.

As reported by blockchain analytics firm Token Terminal, May 10 saw 3.5 million TRUMP tokens—valued at over $52 million—being moved to centralized exchanges. The majority, $22 million, landed on Binance, while OKX and Bybit received $15 million and $7.5 million respectively.

The TRUMP team confirmed the move, saying it was part of “liquidity operations" and that the tokens originated from a wallet allocated at launch for market support. They also mentioned that any newly unlocked tokens had been re-locked for another 90 days to ensure market stability.

However, despite the team's statements, some members of the crypto community remain skeptical, especially given the significant scale of insider gains observed by Chainalysis.

While around 760,000 wallets are currently in the red, just 58 wallets have each pocketed over $10 million in profits, collectively earning over $1.1 billion, according to the firm's analysis.

Moreover, the creators of the token have reportedly made over $320 million in trading fees, highlighting the disproportionate gains reaped by a small group of early participants.

Despite the token creators' claims of the recent transfers being part of a routine operation, the sheer scale of insider profits and the uneven outcomes for everyday holders leave a lasting impression. As the meme coin frenzy continues, the question of who benefits most remains a crucial aspect of the narrative.