Trump Media Transfers $165 Million in BTC, Remaining Holdings May Only Be Collateral for Notes

TechFlow news, August 3, according to CoinDesk, a wallet associated with Trump Media recently transferred 2,628 BTC to Crypto.com, valued at approximately $165 million at the time. After the transfer, approximately 4,261 BTC remained in the on-chain traceable wallet, a quantity largely consistent with the scale of BTC collateralized for convertible notes previously disclosed by the company.

The report suggests that this means its discretionary BTC position may have been essentially cleared. Since Crypto.com serves as both its custodian and trading platform, it is currently impossible to determine based solely on on-chain data whether this transfer was a custody adjustment or a sale, and the relevant impact awaits disclosure in the company's next quarterly report.