Official Trump’s team transferred about $16.91 million in TRUMP tokens to Fireblocks custody wallets on July 25, as Senate negotiations over ethics provisions in the Digital Asset Market Clarity Act, known as the CLARITY Act, remained unresolved.

According to Arkham Intelligence, 16.84 million TRUMP tokens were sent to three Fireblocks custody addresses. Arkham said those addresses had previously received TRUMP tokens and later moved those holdings to BitGo, another institutional crypto custody provider.

The on-chain transfer comes as Senate Democrats continue to oppose ethics language that would leave enforcement of restrictions on officials’ crypto activity solely with the Department of Justice.

TRUMP has declined about 98% from its January 2025 peak of $73.43, based on the supplied market data.

TRUMP tokens sent to Fireblocks custody wallets

Arkham Intelligence reported that the Official Trump team transferred 16.84 million TRUMP tokens, worth roughly $16.91 million, to three Fireblocks custody addresses on July 25.

“TRUMP TEAM SENT $16M TRUMP TO CUSTODY,” Arkham wrote in its alert, saying the transfers were divided among three Fireblocks wallets.

TRUMP TEAM SENT $16M TRUMP TO CUSTODY The $TRUMP team just transferred $16.91M of TRUMP to 3 Fireblocks Custody addresses. These addresses have all received $TRUMP in the past, and all sent their past TRUMP to Bitgo. Are they distributing TRUMP unlocks? pic.twitter.com/Y6XU8dg7qS — Arkham (@arkham) July 25, 2026

TRUMP TEAM SENT $16M TRUMP TO CUSTODY The $TRUMP team just transferred $16.91M of TRUMP to 3 Fireblocks Custody addresses. These addresses have all received $TRUMP in the past, and all sent their past TRUMP to Bitgo. Are they distributing TRUMP unlocks? pic.twitter.com/Y6XU8dg7qS

The blockchain analytics firm said each destination address had previously received TRUMP tokens and subsequently sent those tokens to BitGo. Arkham questioned whether the latest transfers could be related to the distribution of TRUMP unlocks.

The transaction alone does not show that tokens were sold or transferred to an exchange. Custody wallets are commonly used to hold or administer digital assets rather than to trade them directly. Still, the use of custody addresses has drawn attention because a significant portion of the memecoin’s supply remains linked to insider-controlled wallets.

Crypto tools data cited in the report showed that the team could sell as many as 96 million tokens, representing 9.6% of total supply and about 40% of the reported circulating supply of 237 million tokens. About 80% of 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 level marked an 83% decline from its year-over-year high and a nearly 98% drop from the $73.43 price reached in January 2025.

CLARITY Act negotiations spotlight Trump’s crypto ties

The transfer occurred while Senate Republicans were trying to build support for the CLARITY Act before the August recess.

The CLARITY Act is a digital asset market-structure bill, a category of legislation aimed at setting clearer rules for how crypto assets, exchanges and intermediaries are overseen in the United States. Its progress has become tied to a separate political dispute over whether elected officials and their families should face specific limits on crypto activity while in office.

Senate Majority Leader John Thune has pushed to bring the bill to the Senate floor even without the 60 votes required 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, and the Senate Banking Committee advanced it in May 2026 by a 15-9 vote. The bill still requires additional Democratic support, with ethics standards and consumer protections remaining major points of dispute.

Republicans have added limits 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 apply to the president, vice president, members of Congress, federal judges and their spouses. Officials covered by the provision would be prohibited from issuing or sponsoring digital assets and would be required to sell their crypto holdings, place them in a blind trust, or do both.

The provision would expire at noon on Jan. 20, 2029, when Trump’s term is scheduled to end. It would also allow companies to continue using an official’s name, image or likeness if that arrangement existed before the official became subject to the restrictions.

Democrats object to DOJ-only enforcement

Democratic Sen. Angela Alsobrooks has opposed relying only on the Department of Justice to enforce the ethics rules, describing that approach as “unserious.”

Alsobrooks said she would vote against the CLARITY Act if the current wording reached the Senate floor. Her position is significant 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 restrictions on elected officials’ crypto dealings a condition for continuing talks. However, disagreement over who would enforce those restrictions has blocked a bipartisan agreement.

Democrats sought 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.

U.S. TRUMP holders face supply-related scrutiny

For U.S. TRUMP holders, the on-chain transfer has added renewed attention to supply-related risks while the Senate debates whether elected officials should be allowed to maintain ties to token projects.

The Fireblocks transfers do not prove that any tokens were sold. However, Arkham’s statement that the same addresses previously forwarded TRUMP tokens to BitGo has increased scrutiny of the possible purpose of the movements.

The immediate focus is whether the wallets make additional transfers to exchanges or other custodians, and whether Senate negotiators can resolve the dispute over Department of Justice enforcement before the August recess.