Trump Media Uncertainty Surrounds Latest 2,628 BTC Transfer

Trump Media has transferred a significant amount of Bitcoin to Crypto.com, but it remains unclear whether this represents a sale. According to Lookonchain, Trump Media-linked wallets transferred 2,628 BTC worth approximately $165 million on August 2. This move left about 4,261 BTC in the tracked wallets.

The company has not confirmed that the transfer was a sale, and it's possible that this could be an exchange deposit or custody transfer. In March, Trump Media listed 9,542.16 BTC with a cost basis of $1.131 billion and a fair value of $647.1 million in its quarterly filing.

Lookonchain estimates that 7,281 BTC has left the linked wallets over seven months, with an average transfer price of $74,855 and a combined value of about $545 million. This would mean Trump Media is down a total of $555 million.