The TRUMP meme coin team has ignited alarm in the crypto community as they transferred a significant amount of tokens worth $19.6 million to major exchanges, just days before a private dinner with Donald Trump for the token’s top 220 holders. The transfers come amid concerns surrounding potential selling pressure following an upcoming unlocking of large amounts of TRUMP tokens. On-chain data by Lookonchain reveals the team moved over 1.35 million tokens to Binance, OKX and Bybit within the past 24 hours. This action coincides with the release of $300 million worth of tokens unlocked from vesting and daily locks this week. While the team previously assured investors that these newly unlocked tokens wouldn’t be sold, traders fear a token dump and are bracing for volatility. Notably, Senate Democrats Adam Schiff and Elizabeth Warren have raised concerns about potential ethics violations connected to the upcoming dinner with top TRUMP holders.