Trump Media Transfers Another $165M in Bitcoin to Crypto.com

Trump Media & Technology Group (TMTG), led by former U.S. President Donald Trump, has transferred another significant portion of its Bitcoin holdings to Crypto.com. This marks the third large-scale transfer in nine months, with market observers divided on whether it signals a sale or a change in custody arrangements.

On August 2, TMTG moved 2,628 BTC, valued at approximately $165 million (roughly 240 billion won), to Crypto.com. This is the third such transfer, following moves in May and December last year, where the company sent 2,650 and 2,000 BTC respectively.

According to Arkham Intelligence data, TMTG's on-chain Bitcoin holdings have shrunk considerably since the latest transfer, with an estimated 63% decline from its original holdings of 11,542.16 BTC. The company is estimated to have disposed of 7,281 BTC (approximately $545 million) over the past seven months, resulting in a combined loss of around $555 million.

While some on-chain analytics firms believe the pattern of repeated transfers suggests a sustained selling program, others note that TMTG's financial condition does not fit the typical 'forced sale' scenario. The company has reported positive operating cash flow for four consecutive quarters and its cash position exceeds its debt.