Trump Media-linked wallets transferred 2,628 Bitcoin, valued at about $165 million, to Crypto.com on Aug. 2, according to on-chain analysts Lookonchain.
Summary
- 2,628 BTC moved to Crypto.com, but no company filing has confirmed an outright sale yet.
- Trump Media reported 9,542.16 BTC in March, including 4,260.73 BTC pledged as secured convertible-note collateral.
- Lookonchain estimates realized and unrealized Bitcoin losses at $555 million after seven months of transfers.
The movement reportedly reduced the wallets’ remaining balance to about 4,261 BTC.Lookonchain described the movement as another sale and estimated that Trump Media had disposed of 7,281 BTC over seven months. However, neither Trump Media nor an SEC filing had confirmed the latest coins were sold as of Aug. 2. An exchange deposit can precede a sale, custody change, collateral arrangement or another internal transaction.
Trump Media transfer is not a confirmed sale
Lookonchain said the company originally acquired 11,542 BTC for about $1.37 billion, averaging $118,522 per coin. Its post stated, “It looks like Trump Media sold another 2,628 BTC,” wording that reflects uncertainty about the final transaction.
EmberCN separately traced the 2,628 BTC to Crypto.com and estimated that the linked wallets had transferred out about 7,281 BTC. The Arkham entity page identified two recent movements totaling roughly 2,628 BTC, including transfers of about 2,429 BTC and 198.9 BTC.
Source: Akham
Remaining Bitcoin nearly matches pledged collateral
Trump Media’s latest quarterly filing provides the strongest company-confirmed baseline. The company reported 9,542.16 BTC at March 31, with a cost basis of $1.131 billion and a fair value of $647.1 million. It recorded no change in the number of coins during the first quarter.
The SEC filing also said 4,260.73 BTC served as collateral for convertible notes and could not be withdrawn or distributed unless indenture requirements were met. The restrictions are scheduled to end no later than May 29, 2028.
The reported post-transfer balance of about 4,261 BTC almost exactly matches that pledged amount. This suggests the tracked wallets may now mainly contain restricted collateral, but the on-chain labels do not prove the accounting or legal status of each coin.
The $555M loss remains an outside estimate
Lookonchain calculated that the 7,281 BTC left the linked wallets at an average price of $74,855, generating about $545 million. It then estimated Trump Media’s combined realized and unrealized Bitcoin loss at approximately $555 million.
Those figures are not company-confirmed. The calculation assumes exchange transfers became sales near the observed market prices. It also combines estimated losses on transferred coins with the paper loss on the remaining balance. Trump Media’s March filing confirmed a lower fair value, but said the company had not realized material digital-asset losses at that reporting date.
Trump Media transferred 2,650 BTC worth about $205 million to Crypto.com on May 22. The coins remained in an exchange-linked wallet when that report was published, showing why a transfer should not automatically be reported as a completed sale.
Truth API launch adds separate regulatory scrutiny
The Bitcoin movement followed Trump Media’s Aug. 1 launch date for Truth API, a paid service providing institutional customers with low-latency access to influential Truth Social posts. The company said the product delivers posts in milliseconds and could create a recurring revenue stream. Its revenue expectations remain forward-looking claims.
U.S. Senators Adam Schiff and Elizabeth Warren asked the SEC to investigate whether the service could violate federal securities laws. Their letter raised concerns that paying firms could receive market-moving presidential posts faster than ordinary users. The request is not an SEC finding, and the agency had not publicly announced an enforcement action.
Crypto.news reported that Trump Media posted a $405.9 million first-quarter net loss, partly reflecting unrealized markdowns across Bitcoin, Cronos and securities.
The company’s next quarterly filing should clarify whether the May and August transfers were sales, custody movements or transactions linked to hedging and financing arrangements. No verified Bitcoin or DJT price movement can be attributed solely to the Aug. 2 transfer.
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