Trump Media Sells 2,628 More Bitcoin to Crypto.com
Trump Media and Technology Group has transferred an additional 2,628 BTC to Crypto.com, bringing its seven-month cumulative sales total to 7,281 BTC. This sale comes after a report by Cointelegraph on August 2 that the company's bitcoin holdings had fallen to 4,261 BTC.
The transfer is valued at approximately $165 million in USD, with the average sale price per bitcoin being $74,855. According to blockchain analytics platform Lookonchain, citing Arkham data, Trump Media initially bought a total of 11,542 BTC at an average price of $118,522.
The sale has raised questions about the company's cryptocurrency holdings and potential conflicts of interest, particularly with the U.S. Congress discussing the CLARITY Act, a bill aimed at clarifying the digital asset market.