Trump Media-linked Wallets Transfer $165 Million in Bitcoin to Crypto.com

Trump Media and Technology Group-linked wallets have made significant bitcoin transfers to Crypto.com, sparking fresh scrutiny of the company's bitcoin treasury activity. On Saturday, two transactions were recorded, moving a total of 2,628 BTC worth approximately $165 million to the exchange.

The transfer has raised questions about whether Trump Media is selling its bitcoin holdings or simply repositioning them as part of a broader trading strategy. According to blockchain analytics firm Lookonchain, the move is likely a sale, citing on-chain data that shows the bitcoin reaching Crypto.com but not conclusively proving it was sold.

With this latest transfer, publicly attributed Trump Media wallets now hold around 4,261 BTC valued at roughly $268 million with bitcoin trading near $63,000. This balance is close to the 4,260.73 BTC that Trump Media has stated serves as collateral for its convertible notes, which are set to mature on May 29, 2028.

In response to an inquiry about the nature of the latest transfers, Trump Media did not provide a comment. In May, after a similar transfer of 2,650 BTC worth around $205 million was made to Crypto.com, a company spokesperson explained that the bitcoin was transferred but not sold, and that it was part of a broader trading strategy.

The episode highlights how wallet movements to an exchange-linked custodian can signal operational repositioning without conclusively establishing a sale. For crypto markets and investors tracking public-company bitcoin holdings, this development underscores the importance of carefully evaluating on-chain data and company statements when assessing potential sales or treasury management activities.