Binance data shows insiders persist in selling TRUMP memecoins as the price reaches an all-time low.

Wallets associated with the team behind President Donald Trump’s Solana-based TRUMP memecoin transferred a significant quantity of tokens to Binance on March 12, contributing to a new supply overhang for a project that has plummeted to an unprecedented low.

On March 12, blockchain data from Arkham Intelligence indicated that a BitGo custodial wallet linked to the TRUMP team sent 5 million TRUMP tokens, valued at approximately $14.4 million, to Binance, the largest cryptocurrency trading platform worldwide.

This transfer followed a similar transaction in late February, when another 5 million TRUMP tokens, valued at around $17.3 million, were dispatched to Binance through BitGo-related custody flows.

In total, these deposits represent nearly 10 million TRUMP tokens, worth about $31.7 million at the time of the transactions.

Deposits into exchange-associated wallets are closely monitored as they often precede selling, particularly when the sender possesses a substantial allocation.

However, blockchain data only confirms that tokens have arrived at a venue where they can be sold; it does not verify whether the tokens were sold immediately or retained for future transactions.

In the memecoin market, teams and large holders frequently route inventory through market makers, which can obscure the trail once custody and execution are intermediated.

Meanwhile, this latest transfer occurs as Binance seeks to mitigate US scrutiny, following a Wall Street Journal report indicating that the Justice Department is investigating whether Iran utilized the exchange to circumvent sanctions.

Nonetheless, Binance has denied any misconduct and has filed a defamation lawsuit against the Journal and Dow Jones.

A vesting event becomes a supply test

In a post on X, on-chain analyst EmberCN noted that the recent deposits were part of a larger batch of 32.5 million TRUMP tokens, valued at approximately $143 million, that was unlocked and moved from a team allocation wallet in early February.

Data from DeFiLlama reveals that the project recently unlocked $558.09 million worth of tokens to insiders in January. According to this data, TRUMP insiders control 80% of the token’s total supply of 1 billion.

Indeed, token unlock schedules can be standard in venture-backed cryptocurrency projects.

However, they can act as price catalysts when a newly liquid supply is held by insiders and begins to flow toward venues with substantial liquidity.

Given this context, such a transfer could incite selling speculation, particularly since the TRUMP memecoin team has a history of systematically divesting from the token.

Additionally, this action occurs as the TRUMP token price has left minimal room for further supply.

Data from CryptoSlate indicates that TRUMP has dropped to $2.73, reflecting a decline of approximately 96% from its January 2025 peak of $73.43.

TRUMP Memecoin Price Performance (Source: Tradingview)

While the broader cryptocurrency market has also experienced significant losses during this timeframe, TRUMP’s price decline has been more pronounced due to the token’s origins as a political brand extension of the US president, raising ongoing ethical concerns among critics and regulators.

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Furthermore, the retail performance metrics have increased political sensitivity surrounding the token.

Last month, CryptoRank reported that losses across Trump family-linked memecoins, including TRUMP and MELANIA, had surpassed $4.3 billion, with nearly 2 million wallets in a deficit.

The firm highlighted that the primary beneficiaries of these tokens were insiders, with only 45 early wallets recording approximately $1.2 billion in profits. It added:

“While insiders cashed out over $600M through fees and token sales, retail holders absorbed the losses at a ratio of 20-to-1: for every dollar insiders earned, ordinary investors lost $20.”

In light of this, the crucial question is whether the team’s newly unlocked inventory is heading toward the market, which would exert additional selling pressure on an already struggling token.

A web of Trump-Binance connections

All of this activity is unfolding against a backdrop of increasing financial connections between the Trump family’s cryptocurrency ventures and Binance.

For context, Trump pardoned Zhao in October 2025. Prior to that, representatives of the Trump family engaged in discussions about acquiring a financial stake in Binance.US, the exchange’s US division.

However, Zhao has denied those assertions.

Additionally, World Liberty Financial, another cryptocurrency company linked to the Trump family, introduced a dollar-pegged stablecoin named USD1, which was issued on Binance’s blockchain.

Binance subsequently utilized the stablecoin to secure a $2 billion investment from MGX Fund Management Limited, an investment fund based in the United Arab Emirates. Concurrently, the firm has actively promoted the asset to its 300 million users.

These actions have intensified questions regarding conflicts of interest, given the overlap between the president’s family’s cryptocurrency business activities and Binance’s efforts to restore its reputation in the United States.

Meanwhile, the White House has previously stated that Trump’s business interests are held in a trust managed by his children, and the administration has dismissed allegations of conflicts of interest related to his cryptocurrency ventures.

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Binance scrutiny collides with politically exposed flows

Conversely, the TRUMP token transfer also occurs amid an expanding compliance focus on Binance in Washington.

The Wall Street Journal reported on March 11 that the Justice Department is investigating whether Iran used Binance to bypass US sanctions.

Separately, Sen. Richard Blumenthal, the leading Democrat on the Senate Permanent Subcommittee on Investigations, has initiated an inquiry into the platform following reports that Iranian users accessed over 1,500 Binance accounts and that approximately $1.7 billion flowed to Iran-linked entities and networks.

According to the lawmaker:

“The scale of the newly-revealed illicit transfers — uncaught until nearly two billion dollars flowed to sanctioned entities — and the unexplained firing of internal investigators call into question Binance’s compliance with American sanctions and banking laws, and its 2023 agreement to resolve the previous federal investigation”

The lawmaker framed the allegations as a test of whether Binance’s compliance controls have weakened since its record 2023 settlement with US authorities.

Under that settlement, Binance paid approximately $4.3 billion in fines and revamped its compliance measures after prosecutors indicated it failed to maintain an effective anti-money laundering program. Changpeng Zhao pleaded guilty, resigned as chief executive, and later served a prison sentence.

In response to these allegations, Binance has strongly denied the claims while asserting that it has recorded a 97% reduction in exposure to illicit transactions over the past two years.

Simultaneously, the firm stated that it has assisted law enforcement in seizing more than $752 million in illicit funds during the same timeframe.

Additionally, the firm has highlighted recent court victories in civil litigation related to terror-financing allegations as further evidence of its compliance efforts.

On March 12, Binance announced that an Anti-Terrorism Act case in Alabama was dismissed and that a separate ATA case in New York was also dismissed.

Although these claims are distinct from the current sanctions-related scrutiny, Binance stated that these outcomes illustrate its commitment to transparency, security, and lawful conduct in all its operations.

According to the firm:

“[The] courts reviewing these claims have found them wanting on both the facts and the law, and they reinforce that allegations involving sanctions compliance and terrorism financing are serious matters that must be backed by evidence rather than rhetoric and speculation.”

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