Trump Media Transfers $165 Million in Bitcoin to Crypto.com

Trump Media & Technology Group transferred 2,628 bitcoin, valued at approximately $165 million, to Crypto.com in two transactions on Saturday. This movement leaves the company with roughly 4,261 bitcoin in its linked wallets. This remaining balance closely matches the 4,260.73 bitcoin the company previously pledged as collateral for convertible notes in its first-quarter filing.

Since initially purchasing 11,542 bitcoin for approximately $1.37 billion, the company has moved 7,281 coins out of its wallets. The on-chain analytics firm Lookonchain estimates these collective transactions have resulted in approximately $318 million in realized losses.

Trump Media has not specified whether the most recent transfers to Crypto.com represent sales of the assets or moves for custody purposes. The company's second-quarter 10-Q filing is expected to clarify the nature of these transactions.