Binance data reveals insiders continue to dump TRUMP memecoins as its price hits a record low

Data from Binance reveals that wallets linked to the team behind the TRUMP memecoin continue to deposit large amounts of tokens onto the exchange, coinciding with the token's price hitting an all-time low. Approximately 10 million TRUMP tokens, worth around $31.7 million, have been deposited in recent weeks, following a larger unlock of 32.5 million tokens in February. This activity raises concerns about further selling pressure, especially as insiders control 80% of the token's supply and have a history of divesting. The token's price has plummeted 96% from its peak, and losses across Trump-linked memecoins exceed $4.3 billion, with insiders profiting significantly while retail investors suffer. These developments occur alongside increased scrutiny of Binance by the US Justice Department regarding potential sanctions evasion and ongoing investigations into its compliance measures, as well as deepening financial ties between the Trump family's crypto ventures and Binance.

(Source：CryptoSlate)