TRUMP Coin Selloff Sparks Dump Fears as COIN Act Targets Presidential Crypto Holdings

Highlights:

• The Trump Coin team withdrew $4.4M USDC and moved $3.1M TRUMP, sparking fears of a possible dump.
• Whale wallet Kewh32 sold $2.49M TRUMP and still holds $3.3M, signaling continued unloading.
• The COIN Act may be pushing early selloffs, targeting Trump’s crypto activity with strict new rules.

The Trump Coin team took out $4.4M USDC from liquidity, Lookonchain reported. They also moved $3.1M worth of TRUMP tokens to a new wallet. This move may increase traders’ fear, especially with no clear reason behind the transfer. Many could see it as a sign of a possible dump or selloff, especially since TRUMP already faces weak demand.

The #Trump Meme Team removed 4.4M $USDC and 347,438 $TRUMP($3.12M) in liquidity 6 hours ago.

They then bridged 4.4M $USDC to #Ethereum and transferred 347,438 $TRUMP($3.12M) to a new wallet.https://t.co/ORSLE6vJiAhttps://t.co/SYyNae1nio pic.twitter.com/okTk1u0Ow9

— Lookonchain (@lookonchain) June 26, 2025

At the same time, on-chain data shows the whale wallet Kewh32 quietly placed a large limit order to sell 275,672 TRUMP tokens worth $2.49 million. The whale had already offloaded 100,000 TRUMPs worth $1 million just 15 days earlier. It still holds over 369,000 TRUMP tokens valued at $3.3 million. The wallet seems to be reducing its holdings steadily, like it’s prepping for tax season before elections.

Someone is quietly selling 275,672 $TRUMP($2.49M).

6 hours ago, Kewh32 placed a limit order to sell 275,672 $TRUMP($2.49M).

15 days ago, he had already sold 100,000 $TRUMP($2.49M) via a limit order, and still holds 369,400 $TRUMP($3.31M).https://t.co/enaiTsWpom pic.twitter.com/jNOGiAZKUW

— Lookonchain (@lookonchain) June 26, 2025

COIN Act Targets Trump’s Crypto Ties Amid Growing Regulatory Pressure

This move comes shortly after Senator Adam Schiff introduced the COIN Act. The bill aims to prevent U.S. Presidents, Vice Presidents, and their families from owning, promoting, or launching any cryptocurrency while in office. The proposed law also requires them to report any digital asset transaction over $1,000. Failure to comply could lead to fines or up to five years in prison.

California Senator Adam Schiff made it clear the bill targets the President, who has reportedly earned over a billion dollars through crypto, NFTs, branded sneakers, and even his own smartphone. With the law possibly approaching, this recent sell-off might signal an early move to cut crypto holdings ahead of tighter regulations.

Donald Trump and other senior administration officials have made a fortune off of crypto schemes.

Today, I'm introducing the COIN Act to put a stop to this corruption in plain sight. pic.twitter.com/8wieNSCPgC

— Adam Schiff (@SenAdamSchiff) June 23, 2025

Along with supporting pro-crypto policies and launching the TRUMP meme coin, Trump also introduced a DeFi platform named World Liberty Financial. His media firm, Trump Media & Technology Group, has reportedly raised about $2.5 billion to build a Bitcoin treasury. Reports suggest Trump earned over $57 million from World Liberty Financial, raising concerns that he may have used his presidential position for personal profit.

Schiff said:

“President Donald Trump’s cryptocurrency dealings have raised significant ethical, legal and constitutional concerns over his use of the office of the presidency to enrich himself and his family. That’s why I am introducing legislation to prevent the financial exploitation of any digital assets by public officials, including the president and the First Family.”

TRUMP and MELANIA Tokens Struggle as Prices Tumble

TRUMP has been falling lately, dropping nearly 32% in the past 30 days, with a slight dip in the last 24 hours.

Still, it’s up 630% so far this year and is trading around $9. Its 24-hour volume is at $264 million. Its partner token, Official Melania Meme (MELANIA), has also taken a major hit since launch. The price is down 98% from its $13.73 peak and now trades at about $0.213.