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Trump Media Transfers $165M Worth of Bitcoin to Crypto.com, Claims Custody Move

Guavy AI Editorial Team
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Trump Media & Technology Group has transferred $165 million worth of Bitcoin (BTC) to Crypto.com, claiming it was not a sale but rather for custody purposes.

The transfer, which occurred over the weekend, saw 2,628 BTC moved from Trump Media's wallets to Crypto.com. This leaves publicly tagged wallets holding about 4,261 BTC, almost exactly the same amount as the 4,260.73 BTC reported as collateral for its convertible notes in May.

Trump Media has previously used this explanation after a similar transfer in May, stating that the coins were moved to Crypto.com for custody purposes and not sold.

On-chain data can only show the coins arriving at the exchange, making it difficult to determine what happens next until the next regulatory filing drops. Lookonchain's tracking paints a more aggressive picture, with Trump Media originally accumulating around 11,542 BTC at an average price north of $118,000.

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