TRUMP Token Dumps 5% as Insiders Offload Millions of Tokens Ahead of Private Dinner with Donald Trump

The Official Trump token, TRUMP, has come under severe pressure after a massive token dump by insiders linked to the project team and a prominent market maker has triggered panic among retail holders.

At press time, the TRUMP token trades at a 5% loss, driven by a confluence of bearish catalysts, including over $24 million in combined token offloading.

TRUMP Team and Cumberland DRW Sell Tokens

According to on-chain analytics from Lookonchain, wallets linked to the TRUMP team deposited $19.6 million worth of tokens across major centralized exchanges.

A wallet linked to the $TRUMP team deposited 1,346,000 $TRUMP($19.58M) into #Binance, #OKX, and #Bybit 9 hours ago.https://t.co/Mkk5VIjIFW pic.twitter.com/G4cuIBrQVq

— Lookonchain (@lookonchain) April 29, 2025

The breakdown:

1,346,000 TRUMP tokens (roughly $19.6 million) were deposited into Binance, OKX, and Bybit.

Out of the total, 640,000 TRUMP tokens were credited to a Binance account, while 484,000 went to OKX and 222,000 went to Bybit.

These deposits were made over the past nine hours, rendering them quite recent.

Adding to the sell pressure, prominent market maker Cumberland DRW transferred an additional 300,000 TRUMP tokens to OKX, valued at $4.4 million.

This brings the total to 1.64 million TRUMP tokens, or about $24 million in total sell pressure.

This move has triggered panic among retail holders, especially given the timing—just weeks ahead of the highly publicized May 22 dinner that Trump will host for TRUMP token holders.

Highlighting the varsity interest in the token, Democratic US Senators Adam Schiff and Elizabeth Warren have formally requested an ethics inquiry into the private dinner hosted by Trump for TRUMP token holders.

Their April 25 letter to Office of Government Ethics Director Jamieson Greer highlights that the dinner, which coincided with a sharp price rally, may have deceived investors and influenced financial markets.