Trump Media Transfers 2,628 Bitcoin Worth $165 Million

A recent on-chain analysis by Lookonchain has revealed that Trump Media-linked wallets transferred 2,628 Bitcoin (BTC) to Crypto.com on August 2. The value of this transfer is approximately $165 million.

This movement reduced the remaining balance in the wallets to about 4,261 BTC, with a cost basis of $1.131 billion and a fair value of $647.1 million at March 31. According to Trump Media's latest quarterly filing, 4,260.73 BTC is pledged as secured convertible-note collateral and cannot be withdrawn or distributed until May 29, 2028.

The estimated loss from this transfer is around $555 million, calculated by combining the realized losses on transferred coins with the paper loss on the remaining balance. However, neither Trump Media nor an SEC filing has confirmed the sale of these specific coins as of August 2.