Trump jokes about fourth term as $16.9M in TRUMP tokens move

President Donald Trump joked about running for a fourth term at the White House Correspondents’ Association dinner while wallets tied to the Official TRUMP memecoin moved millions of dollars in tokens toward crypto exchanges.

At the dinner, Trump produced a red “Trump 2028” hat and said, “I’m pleased to announce my intention to, and this is somewhat of a scoop, my intention to run for a fourth term as president of the United States. I won three times. Now I’m going to do it again.” He later acknowledged he was joking. The 22nd Amendment bars a person from being elected president more than twice; prediction-market data on Polymarket assigned a 4% probability that term limits would be repealed or changed this year.

Blockchain tracker Lookonchain reported that wallets associated with the TRUMP project moved about 10.84 million TRUMP tokens, valued at roughly $16.91 million. The transfers appeared likely to pass through the crypto custodian BitGo before reaching exchanges. No market sales have been confirmed.

Lookonchain data show project-linked wallets moved a total of about 48.25 million TRUMP, worth roughly $172.4 million, across three batches over the past five months.

TRUMP launched in January 2025 and reached an early peak near $75.35. The token has since fallen sharply and recently traded around $1.55, a decline of more than 66% over five months.

On-chain records indicate transfers that route tokens through custodians have reached exchange order books in prior instances. Moving tokens through custodians can serve multiple purposes, including providing liquidity, market making, distributing holdings, or preparing for sales. Project disclosures state that unlocked token inventory may be selectively sold, distributed or monetized to fund partnerships, acquisitions and other initiatives.

The project has run programs to expand liquidity and trading. A Kamino campaign distributed about 114,000 TRUMP as incentives for liquidity providers. A TRUMP-SOL liquidity pool grew from about $2,000 at launch to a peak near $1.66 million in May. The team added pools on decentralized platforms Orca and Raydium and said liquidity providers support trading across centralized and decentralized venues.

The TRUMP project operates a Trump Coin Club that ties recurring perks to leaderboard rankings based on token balances and holding duration. The top 19 holders received World Cup experiences including access to a private suite. The project plans to send the top 23 holders to the Formula 1 Singapore Grand Prix from Oct. 9 to Oct. 11. Holders who kept balances after a July 5 snapshot received a 10% boost to their scores; dropping below that balance removes the bonus, and selling an entire position removes a holder from leaderboards. Final rankings will be locked on Sept. 30, and the club is promoting an event around Super Bowl LXI in February 2027.

An independent investigation estimated the memecoin generated more than $1.2 billion in revenue, with about $616 million paid to members of the Trump family. That review also estimated that investors who bought TRUMP collectively faced roughly $700 million in losses, with gains concentrated among some early traders and large holders.

The recent wallet activity and the project’s disclosures provide context for where additional token supply is moving, but the records do not identify whether the latest batch was destined for immediate sale on exchanges.