On July 25, the Official Trump team shifted nearly $17 million worth of TRUMP tokens to three Fireblocks custody wallets, according to blockchain analytics firm Arkham Intelligence. These addresses have a history of handling TRUMP tokens and previously forwarded them to BitGo, raising questions about whether these transfers relate to an upcoming token unlock event.
Arkham Intelligence highlighted that 16.84 million TRUMP tokens changed hands in this move, which does not necessarily indicate a sale or exchange listing. Nevertheless, the use of custody wallets has drawn attention due to the large portion of the token supply still controlled by insiders. Roughly 80% of the total supply is held in insider wallets, while around 67% of tokens have already been unlocked and circulated.
Despite the transfer, TRUMP token’s market value remains deeply depressed. The token traded near $1.57 at press time, marking an 83% drop from its peak a year ago and a nearly 98% plunge from the $73.43 high recorded in January 2025. Data suggests the team could liquidate up to 96 million tokens, representing 9.6% of the total supply and about 40% of the circulating tokens.
CLARITY Act Negotiations Stall in Senate
This token movement coincides with ongoing Senate debates over the Digital Asset Market Clarity Act, or CLARITY Act, which aims to introduce clearer regulations for crypto markets. Senate Majority Leader John Thune is pushing to bring the bill to the floor before the August recess, even without securing the 60 votes needed to overcome a filibuster. The House passed the legislation in July 2025, and the Senate Banking Committee approved it in May 2026 by a 15-9 vote.
However, Senate Democrats oppose the bill’s ethics provisions that assign enforcement solely to the Department of Justice, causing a legislative impasse. The stalled negotiations put Trump’s crypto-related activities under sharper scrutiny, especially given the significant insider holdings of TRUMP tokens.
This development follows wider tensions in the crypto space where regulatory clarity remains elusive. The pressure on digital assets has been evident in recent market moves, similar to other episodes where regulatory uncertainty influenced trading volumes and token prices.
