Trump Media & Technology Group has moved another 2,650 Bitcoin (worth about $205 million) to Crypto.com, triggering fresh concerns about a potential sell-off as the company's crypto treasury remains deeply underwater. The transfer was flagged by blockchain analytics platform Lookonchain, which traced the funds from wallets linked to the entity behind Truth Social, majority owned by the Donald J. Trump Revocable Trust.
The company originally accumulated 11,542 BTC at an average price of $118,522 per coin, spending close to $1.37 billion on the position. Earlier this year, it had already moved 2,000 BTC (around $175 million) to the same exchange when Bitcoin traded near $87,378. With the latest transfer, the remaining stash drops to approximately 6,889 BTC, now valued far below the initial purchase cost as Bitcoin hovers around $77,700.
While deposits to exchanges do not automatically confirm a sale, large inflows are often interpreted by traders as a precursor to liquidation. The move adds to a pattern of Trump-linked crypto asset disposals. Recent reports noted that WLFI token holders dumped 1.8 billion coins, and the teams behind the TRUMP and MELANIA meme coins sold off most of their holdings after both assets crashed over 90% from their peaks.
Trump Media's quarterly filing already reflected the strain: the company reported a $405.9 million net loss for Q1 2026, with $368.7 million tied to unrealized markdowns on digital assets. Its Bitcoin cost basis was disclosed at roughly $1.13 billion, while fair value had dropped to about $647 million by the end of March. The company also holds 756 million Cronos tokens linked to its partnership with Crypto.com.
Market impact from the latest transfer is likely limited by the relatively small size compared to Bitcoin’s daily multi-billion-dollar trading volumes. However, the symbolism of a high-profile corporate treasury booking steep losses may weigh on retail sentiment. On-chain data shows that over 70% of Bitcoin’s circulating supply has not moved in more than a year, suggesting that long-term holders continue to accumulate despite institutional selling pressure.
