Official Trump’s team has transferred about $16.91 million in TRUMP tokens to Fireblocks custody wallets as Senate negotiations over ethics rules in the CLARITY Act remain stalled.
Summary
- 16.84 million TRUMP tokens were sent to three Fireblocks custody addresses, according to Arkham Intelligence.
- Arkham said the addresses had previously moved received TRUMP tokens onward to BitGo.
- Senate Democrats are resisting ethics provisions that leave enforcement solely with the Department of Justice.
- TRUMP has fallen about 98% from its January 2025 peak of $73.43, based on the supplied market data.
TRUMP tokens move to Fireblocks custody wallets
Arkham Intelligence reported that the Official Trump team transferred 16.84 million TRUMP tokens, valued at roughly $16.91 million, to three Fireblocks custody addresses on July 25.
“TRUMP TEAM SENT $16M TRUMP TO CUSTODY,” Arkham wrote in its alert, adding that the transfers were split among three Fireblocks wallets.
The blockchain analytics firm noted that each destination address had received TRUMP tokens before and later sent those holdings to BitGo. Arkham asked whether the latest movements could be connected to the distribution of TRUMP unlocks.
The transaction does not by itself show that tokens were sold or sent to an exchange. However, the use of custody addresses has drawn attention because a large share of the memecoin’s supply remains tied to insider-controlled wallets.
Crypto tools data cited in the report shows that the team could sell up to 96 million tokens, equal to 9.6% of the total supply and about 40% of the reported circulating supply of 237 million tokens. About 80% of the total supply remains in insider hands, while roughly 670 million tokens, or 67%, have already unlocked.
TRUMP traded near $1.57 at press time, according to the supplied data. That price represents an 83% decline from its year-over-year high and a nearly 98% drop from the $73.43 level reached in January 2025.
CLARITY Act ethics rules put Trump’s crypto ties in focus
The transfer comes as Senate Republicans attempt to secure backing for the Digital Asset Market Clarity Act, known as the CLARITY Act, before the August recess.
Senate Majority Leader John Thune has pushed to bring the bill to the floor even without the 60 votes needed to overcome a filibuster. “I would like to at least get Clarity started. We’ll see where the votes are,” Thune previously said.
The House passed the legislation in July 2025, while the Senate Banking Committee advanced it in May 2026 by a 15-9 vote. The bill still needs additional Democratic support, with ethics standards and consumer protections remaining central obstacles.
Republicans have added restrictions on crypto activity by senior elected officials to the latest draft. According to reports by Crypto in America’s Eleanor Terrett and Punchbowl News’ Brendan Pedersen, the White House sent the proposed language to Republican senators on July 20 before Democrats had reviewed it.
The draft would cover the president, vice president, members of Congress, federal judges and their spouses. Covered officials would be barred from issuing or sponsoring digital assets and would have to sell their crypto holdings, use a blind trust, or take both steps.
The provision would expire at noon on Jan. 20, 2029, when Trump’s term is scheduled to end. It would also permit companies to continue using an official’s name, image or likeness when that arrangement existed before the official became subject to the restrictions.
Democratic opposition centers on enforcement
Democratic Sen. Angela Alsobrooks has objected to relying only on the Department of Justice to enforce the ethics rules, calling that approach “unserious.”
Alsobrooks said she would oppose the CLARITY Act if the current wording reached the Senate floor. Her stance carries added weight because she was one of two Democrats who supported advancing the bill through the Senate Banking Committee in May.
President Donald Trump accepted the ethics provision earlier this week after Democratic lawmakers made limits on elected officials’ crypto dealings a condition for continued talks. Yet disagreement over who enforces those restrictions has prevented a bipartisan deal.
Democrats pushed for the language after financial disclosures showed Trump earned as much as $1.4 billion from crypto-related ventures last year. Alsobrooks and Sen. Kirsten Gillibrand had told colleagues that the market-structure bill could not advance without conflict-of-interest rules.
What the TRUMP transfer means for US holders
For U.S. TRUMP holders, the on-chain movement adds a fresh supply-related risk while the Senate debates whether elected officials can retain ties to token projects. The Fireblocks transfers do not prove sales, but Arkham’s note about prior transfers from the same addresses to BitGo has fueled scrutiny over their potential purpose.
The immediate focus is whether the wallets make further transfers to exchanges or other custodians, and whether negotiators can resolve the DOJ enforcement dispute before the Senate’s August recess.
