Trump Media Transfers $165 Million of Bitcoin to Crypto.com, Says It Wasn’t Sold

Trump Media & Technology Group, in which US President Donald Trump is the largest shareholder, transferred about $165 million of Bitcoin to Crypto.com.

The Block reported on August 2 that a wallet believed to be linked to Trump Media moved a total of 2,628 Bitcoin to Crypto.com in two transactions that day. The holdings were worth about $165 million at the time.

On-chain analytics platform Lookonchain flagged the transfers and suggested the Bitcoin may have been sold. But blockchain data only confirms that the tokens were moved to an exchange, not whether an actual sale took place.

Trump Media told The Block that the Bitcoin was transferred to Crypto.com but not sold. It gave the same explanation in May, when a similar transfer occurred.

After the latest move, wallets tied to Trump Media still held about 4,261 Bitcoin, worth roughly $268 million at current prices.

According to the company’s first-quarter report filed this year with the US Securities and Exchange Commission, 4,260.73 Bitcoin had been pledged as collateral for convertible notes as of March 31. The company said the Bitcoin can only be withdrawn or disposed of if the terms of the loan agreement are met, and that the restrictions will be lifted no later than May 29, 2028, when the notes mature.

Trump Media has also maintained a cooperative relationship with Crypto.com in areas including crypto exchange-traded funds and the issuance of shareholder reward tokens. The company withdrew applications in May for the Truth Social Bitcoin ETF and the Bitcoin and Ethereum ETF.

Separately, Trump Media recently launched a service offering its Truth API to high-paying users for as much as $100,000 a month. Critics have said the service could raise insider-trading concerns. Democratic Senators Elizabeth Warren and Adam Schiff said in a recent letter to the SEC that the service was “an example of using the presidency for personal gain.”