Trump Media & Technology Group (Nasdaq: DJT), the parent company of the Truth Social platform, has transferred another 2,650 Bitcoin worth approximately $205 million to the exchange Crypto.com, a move widely interpreted as preparation for a potential sale of the company’s digital asset holdings.
The transfer, confirmed by on-chain data tracked by blockchain analytics firm Lookonchain, occurred in two transactions between roughly 1:22 a.m. and 2:22 a.m. GMT on May 22, originating from wallets labeled as Trump Media accounts by Arkham Intelligence.
The company has yet to issue any official statement confirming or denying the intent behind the move.
Trump Media originally purchased 11,542 BTC for approximately $1.37 billion at an average acquisition price of $118,522 per coin.
With Bitcoin trading around $77,000 to $77,300 at the time of the transfer — well below that cost basis — the company is now estimated to be sitting on roughly $455 million in unrealized losses on its cryptocurrency holdings. Following the transaction, Trump Media’s visible on-chain holdings stand at an estimated 6,889 to 6,892 BTC, valued at approximately $533 million at current prices.
This is not the first time the company has moved Bitcoin off its books.
Four months ago, Trump Media shifted 2,000 BTC valued at roughly $175 million — at the time, with Bitcoin trading near $87,378 — in what the company later characterized as a collateral movement.
Trump bitcoin ETF withdrawal
The latest crypto transfer comes just days after Trump Media withdrew its applications for a spot Bitcoin ETF and a combined Bitcoin-Ethereum ETF from the U.S. Securities and Exchange Commission on May 20.
The company’s fund sponsor, Yorkville America, filed for withdrawal, citing a decision not to pursue the public offering “at this time.”
ETF analysts noted that the decision appeared driven less by regulatory headwinds and more by competition from established players like BlackRock and Morgan Stanley, which now dominate what has become a $57 billion Bitcoin ETF market.
The Bitcoin strategy has coincided with a dramatic deterioration in Trump Media’s financials. In its first-quarter 2026 earnings report, the company posted a net loss of $405.9 million on just $871,200 in revenue — a staggering widening from a $31.7 million loss during the same period a year earlier. The bulk of those losses, approximately $368.7 million, stemmed from non-cash unrealized losses on digital assets and equity securities.
DJT shares have fallen roughly 60% over the past 12 months and were trading around $7.95 to $8.15 on Thursday and Friday.
The company, which was founded in 2021 and is headquartered in Sarasota, Florida, has struggled to build meaningful advertising revenue even as it has aggressively bet on crypto as a core pillar of its financial strategy.