Wallet addresses linked to Trump Media & Technology Group moved approximately 2,628 BTC — valued at around $165 million — to the Crypto.com exchange on August 2, according to on-chain data tracked by Lookonchain and EmberCN. The transfer is the latest in a series of Bitcoin movements from the company’s wallets, which originally held 11,542 BTC purchased at an average price of $118,522 per coin.
The on-chain analysts estimate that over the past seven months, a total of about 7,281 BTC has been transferred out of these addresses, leaving a remaining balance of roughly 4,261 BTC. Interestingly, that remaining balance matches almost exactly the 4,260.73 BTC that Trump Media disclosed as pledged collateral for convertible notes in its March SEC filing. The company reported 9,542.16 BTC at the end of the first quarter, with a fair value of $647.1 million against a cost basis of $1.131 billion, and stated that the collateral portion could not be withdrawn or distributed until certain indenture conditions are met, no later than May 29, 2028.
Lookonchain estimated that the 7,281 BTC left the wallets at an average price of $74,855, generating about $545 million. Combined with the paper loss on the remaining coins, they calculate Trump Media’s total realized and unrealized Bitcoin losses at approximately $555 million. However, these figures are not confirmed by the company, and no SEC filing has verified that the latest transfer constitutes an outright sale. Exchange deposits can also be intended for custody, collateral arrangements, or other internal financial transactions.
The August transfer follows a similar move on May 22, when 2,650 BTC worth about $205 million was sent to Crypto.com and remained in an exchange-linked wallet at the time of reporting. That incident highlighted why a transfer alone should not be automatically treated as a completed sale. Trump Media’s next quarterly filing is expected to clarify whether the May and August movements were sales, custody actions, or related to hedging and financing.
Coinciding with the Bitcoin movement, Trump Media launched the Truth API on August 1 — a paid service granting institutional customers low-latency access to influential Truth Social posts. U.S. Senators Adam Schiff and Elizabeth Warren subsequently asked the SEC to investigate whether the service could violate securities laws, alleging that paying firms might receive market-moving presidential posts before ordinary users. The SEC has not announced any enforcement action.
While the transfer of such a sizable Bitcoin amount by a company closely tied to a sitting U.S. president can fuel market jitters, no definitive price impact on Bitcoin or Trump Media’s stock (DJT) can be attributed solely to the August 2 event.
