Binance and Coinbase list MEMECOIN TRUMP

Binance and Coinbase simultaneously listed the TRUMP token spot, the project team is constantly taking profits in silence, what do these events mean?

In a remarkable development, both Coinbase and Binance announced a spot listing for the Official Trump token (TRUMP) on January 19, 2025. These were the last major exchanges to list the memencoin, while the majority of others have supported TRUMP trading since January 18.

Coinbase announced the addition of TRUMP to the listing route, and confirmed the contract address on the Solana network. Binance quickly followed suit, announcing the opening of the TRUMP/USDC and TRUMP/USDT trading pairs, applying the “Seed” tag to the token.

According to information from Binance, users can deposit TRUMP to the exchange from 13:30 (UTC) on January 19, and start trading from 15:30 (UTC) on January 19.

Besides the listing news, recent on-chain data shows that the team behind TRUMP has made notable moves on the Solana ecosystem. According to analysis from the on-chain community, the TRUMP group's wallet used the proceeds from providing liquidity on Meteora to acquire large amounts of SOL.

SolanaFloor

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🚨JUST IN: Onchain data reveals that the $TRUMP team wallet, which deployed liquidity on Meteora's pools, has been actively buying SOL using fees collected from the pools, purchasing $7M worth of SOL so far.

4:52 AM · Jan 19, 2025

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In just a short period of time, they bought about $7 million of SOL, mostly by swapping from USDC obtained from transaction fees. Some notable trades include withdrawing USDC from the pool, then making a series of swaps to collect SOL.

This suggests the TRUMP team's strategy of leveraging liquidity on Solana, and also led to much speculation about the purpose behind the move. One of them is that the project team can use the money earned to support crypto projects backed by his own children, such as WLFI.

Another development that was also noted on-chain, was that the TRUMP team withdrew $6 million USDC from the previous liquidity and quickly swapped it into SOL, which then transferred directly to the OKX exchange.

The project team sends the SOL earned from the transaction fee to OKX. Source: @jconorgrogan.

This can be a capital allocation or profit-taking move, but it also raises questions about the true intentions of the development team. This action attracted a lot of interest from the community, especially investors who closely monitor on-chain developments related to the TRUMP token.