Trump Media bitcoin holdings fall to $268M after $165M Crypto.com transfer
Trump Media’s bitcoin holdings just took another hit — and the numbers suggest the company’s crypto treasury may now be little more than the collateral backing its own debt. Wallets tied to the Truth Social parent moved 2,628 bitcoin worth roughly $165 million to Crypto.com over the weekend, according to onchain data reviewed by CoinDesk and The Block. That leaves the publicly tagged wallets holding about 4,261 bitcoin, a figure that lines up almost exactly with what Trump Media pledged as collateral on its convertible notes earlier this year.
Key takeaways
- Trump Media wallets sent 2,628 bitcoin (about $165 million) to Crypto.com in two transactions over the weekend, per Arkham data.
- Remaining tagged wallets now hold roughly 4,261 bitcoin, closely matching the 4,260.73 bitcoin pledged as convertible note collateral as of March 31.
- The company originally bought 11,542 bitcoin near market highs for about $1.37 billion; 7,281 coins have since moved out, generating an estimated $318 million in realized losses and $237 million in unrealized losses.
- Trump Media posted a $405.9 million net loss on just $871,200 in first-quarter revenue.
- A company spokesperson told The Block the latest transfer was not a sale, but the second-quarter 10-Q filing will be the real test of that claim.
Recent Bitcoin Transfers by Trump Media
The short answer to what happened this weekend is straightforward: Trump Media-linked wallets sent bitcoin to an exchange again, and nobody outside the company can say for certain why. Onchain analytics firm Arkham tracked the 2,628 BTC transfer across two separate transactions to Crypto.com on Saturday. Lookonchain, another blockchain analytics firm, flagged the move on social media and described it as a likely sale — though the onchain trail only proves the coins landed at Crypto.com, not what happened to them afterward.
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