The Trump memecoin deployment address has transferred a total of 94 million USDC to Coinbase over the past three weeks, raising suspicions that the same operating team is behind the Dump of TRUMP and MELANIA meme tokens.
The prominent on-chain money flow is accompanied by several other developments: Circle and Tether continue large-scale stablecoin printing; several large wallets are moving ETH/ BTC to exchanges; numerous new cryptocurrency ETF applications are being filed in the US; and security incidents are causing millions of dollars in losses.
- The deployment address shows Trump transferred 94 million USDC to Coinbase in 3 weeks.
- Circle deposits an additional 1 billion USDC on Solana ; Tether deposits 1 billion USDT on TRON.
- The Trust Wallet plugin v2.68 was subjected to a supply chain attack, resulting in losses of approximately $8.5 million.
Large capital flows: stablecoins, BTC/ ETH , and listing activity.
on-chain saw several large-scale deals: 94 million USDC deposited to Coinbase from the Trump deployment address; Circle minted an additional 1 billion USDC on Solana in 9 hours; Tether Treasury minted 1 billion USDT on TRON.
According to analyst Yu Jin, the USDC transfer to Coinbase originated from a one-way liquidation sale on Meteora (adding only Trump, not USDT; then selling Trump for USDT at the price margin), and then converting it to USDC. The exit strategy is described as applying to both TRUMP and MELANIA, fueling speculation that the same group is behind it.
A whale that accumulated 8,550 ETH a week ago at an Medium price of $2,991 deposited 3,000 ETH (approximately $8.93 million) onto Binance 10 hours ago; selling would result in a loss of $43,000. This wallet still holds 5,550 ETH from last week's order (estimated loss of $46,000) and holds a total of 22,981 ETH. Additionally, the address bc1qw withdrew another 400 BTC from Binance (approximately $35.18 million), bringing the total withdrawals to 2,000 BTC in 2 days; total holdings are approximately $177 million.
ETFs, legal issues, and security risks in cryptocurrencies.
Bitwise filed with the SEC for 11 new cryptocurrency ETFs (AAVE, UNI, ZEC, ENA, Hyperliquid, NEAR, STRK, Sui , TAO, TRX , and CC). Grayscale also filed an S-1 to convert Grayscale Bittensor Trust into an ETF, which is expected to list on the NYSE Arca under the ticker symbol GTAO.
Bitwise's ETFs are described as allocating 60% of their assets to the underlying cryptocurrency and 40% to related ETPs, which may be Derivative; fees and trading codes are undisclosed. Grayscale's fund mirrors the value of TAO but prohibits Staking unless future conditions allow; Grayscale believes Bittensor could be a driver of decentralized AI.
Regarding security, Trust Wallet reported that its v2.68 browser plugin was uploaded to the Chrome Web Store by attackers without internal review, injecting malicious code to execute transactions and steal wallet data illegally. The incident affected 2,520 addresses, resulting in losses of approximately $8.5 million; the system has been rolled back to v2.69 and compensation has been initiated. Unleash Protocol also reported internal governance abuse leading to unauthorized contract upgrades and losses of approximately $3.9 million; the project has ceased operations and users are being warned against interacting with the contract.
