Trump Media Unloads Another $165 Million in Bitcoin Holdings

Trump Media & Technology Group has made another significant move involving its Bitcoin holdings. The company sold 2,628 BTC worth approximately $165 million through transfers to Crypto.com, according to blockchain analytics platform Lookonchain.

This latest transfer brings Trump Media's total reported Bitcoin sales over the past seven months to 7,281 BTC, worth about $545 million at an average selling price of $74,855 per BTC. The company's remaining Bitcoin holdings now stand at 4,261 BTC, worth around $269.8 million.

The sale comes as Trump-linked crypto ventures face broader scrutiny, with lawmakers debating the Digital Asset Market Clarity (CLARITY) Act and questions surrounding ethics and digital asset ownership. Critics have raised concerns about potential conflicts of interest involving public officials, including US President Donald Trump's involvement in various crypto ventures.

It is worth noting that recent CLARITY Act discussions have focused on tightening ethics provisions, including rules around officials issuing or sponsoring digital assets. However, the legislation remains under consideration and does not require companies to sell existing crypto holdings.