Trump Media Transfers 2,650 Bitcoin to Crypto.com for Custody or Trading

Trump Media & Technology Group has transferred 2,650 Bitcoin, valued at approximately $205 million, to the cryptocurrency exchange Crypto.com. The transaction, identified by blockchain analytics, marks the second major movement of Bitcoin from the company's holdings this year.

The company originally accumulated 11,542 Bitcoin at an average purchase price of about $118,522 per coin, deploying roughly $1.37 billion into the asset. With Bitcoin currently trading near $77,700, the holdings are significantly below their entry price, representing an unrealized loss estimated at $455 million. Following this latest transfer, the company's remaining Bitcoin treasury appears to stand at roughly 6,889 BTC.

This activity follows a similar transfer four months ago, when the company moved 2,000 Bitcoin, then worth about $175 million. After that transaction, the company's quarterly filing disclosed holdings of 9,542 Bitcoin. A transfer to an exchange does not confirm a sale, as such moves can also relate to custody arrangements, over-the-counter trading, or other corporate treasury management.

The movement comes shortly after the company reported a net loss of approximately $406 million for the...