Trump Media & Technology Group, parent of Truth Social, moved 4,259 bitcoin—worth approximately $342 million to $343.67 million—to Crypto.com on Thursday, according to blockchain trackers Arkham and Lookonchain.
The transfer occurred in two batches at 02:17 UTC: one of 2,140.03 BTC and another of 2,119.31 BTC. Arkham labeled the sending addresses as “2028 Convertible Notes Collateral,” and the moved amount is only about 1.5 BTC short of the 4,260.73 bitcoin pledged to secure the company’s convertible notes as of June 30.
While moving coins to an exchange does not confirm a sale, the timing has raised concerns. Holders of Trump Media’s convertible notes can demand cash repayment on November 30, potentially costing the company about $1 billion. A November 2 securities filing warned the company may need to sell bitcoin or other digital assets if refinancing and other steps fall short. Cash and short-term investments totaled about $425 million at June 30.
The transfer represents roughly 30% of the 14,139 BTC Trump Media reported holding as of July 31, including pledged coins. The company previously sent 2,650 BTC to Crypto.com in May 2026 and 2,628 BTC in August 2026, describing both as custody management rather than sales.
Political pressure is mounting as well. After Democratic midterm victories, incoming lawmakers are preparing to investigate Trump family crypto ventures, including World Liberty Financial, for possible foreign investment and conflicts of interest. Senator Elizabeth Warren and Representative Robert Garcia have signaled scrutiny, with subpoena power expected when the new Congress begins in January.
Bitcoin traded near $80,481 at the time of reporting; the next major date is November 30, when noteholders can exercise the repayment option.
