Is Trump Quietly Selling His Crypto Holding Post COIN Act Bill?

$TRUMP Crypto Sales Stir Concerns Amid COIN Act Announcement

A recent update from Lookonchain, a blockchain tracking platform, has sparked new discussions in the cryptocurrency world. According to the Tweet by Lookonchain, a wallet named Kewh32 placed a limit order to sell 275,672 $TRUMP crypto tokens, worth about $2.49 million, just six hours ago.

Interestingly, this same wallet sold another 100,000 tokens, also worth $2.49 million, just 15 days earlier. After both transactions, the wallet still holds around 369,400 the meme coin currently valued at $3.3 million.

Source: Lookonchain

This activity is making people wonder: is the president slowly pulling out of his crypto holdings?

Is the Wallet Linked to the President?

The wallet Kewh32 has not been officially confirmed as linked to the president, but the timing and scale of the transactions make it seem like it could be part of his broader digital assets activity. The president is known to be involved in many crypto projects, like NFTs, memecoins, and digital assets like Ethereum and XRP. 

Selling large amounts in small steps, instead of all at once, is generally done to prevent shocking the market. It could be that Trump or one of his allies is behind this wallet if it means that they're gradually withdrawing from the cryptocurrency without making a big deal out of it.

COIN Act Pressure Mounts on Trump-Linked Crypto

This transaction comes right after Senator Adam Schiff announced the COIN Act. The bill is created to prevent the U.S. Presidents, Vice Presidents, and their families from the ownership, promotion, or launch of any cryptocurrencies while they are holding a designation in the public office.

The law would also require them to inform about any digital currency transaction more than $1,000. Anyone not following these rules could face up to five years in jail or heavy fines. Schiff, made it clear that it is targeted at the President. He has made more than a billion dollars through crypto, NFTs, sneakers, and even a branded phone.

With the law possibly closing in, this recent selling could be an early sign that he is preparing to reduce his cryptocurrency exposure before stricter rules are enforced. 

Currently the $TRUMP meme coin is trading at $9.01 with a decrease of 1.82% in a day. The trading volume has also decreased by 17.48% to reach $283.28 million as per the CoinMarketCap. 

Source: CoinMarketCap

Trump and Vance’s Crypto Ties Run Deep

President isn't alone in the limelight. His Vice President, JD Vance, is also a highly prominent personality in the crypto industry. Reports claim that Vance holds Bitcoin worth $250,000, and some other tokens such as Avalanche, Intelmarkets, and Dogecoin. 

However, he has investments in $TRUMP, a memecoin on Solana, World Liberty Financial (organisation by his sons), and a number of NFT collections on Polygon.

Is This a Strategy or a Silent Exit?

This activity is not about digital assets only, it is also about public image and timing. The recent Iran-Israel conflict caused the market crash in the market globally. After the announcement of the ceasefire by the President, the market began to recover, and that shift also affected tokens like $TRUMP.

Now, with the regulations like the COIN Act and increasing pressure from the public, the president may be trying to quietly adjust his crypto portfolio without creating a buzz around it.

Final Thoughts: What Comes Next?

Regardless of whether Trump is involved in this wallet or not, the silent selling of $TRUMP tokens indicates the close ties between politics and cryptocurrency. Not any more is it about the market trends than it is now about who is holding what and why.

When the president is getting ready for a potential crypto crackdown, then this might be the start of something much bigger as to how political leaders deal with digital assets.