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Trump Media Transfers $165M in Bitcoin Amid Scrutiny

Guavy AI Editorial Team
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Trump Media & Technology Group has transferred $165 million worth of Bitcoin into Crypto.com-linked wallets, according to recent blockchain activity. The move comes as the company's tracked Bitcoin holdings have fallen by 63% over the past seven months.

The transfers, which occurred on August 2, reduced the company's balance to approximately $270 million in Bitcoin. However, it is unclear whether these transactions represent completed sales or mere custody arrangements.

Lookonchain, a blockchain analytics firm, identified the transactions using Arkham Intelligence wallet labels. However, neither Trump Media nor Crypto.com has confirmed that the deposits represented executed sales.

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