Trump Media and Technology Group (Nasdaq: DJT), the parent company of the Truth Social platform, transferred another 2,650 bitcoins worth approximately $205 million to the Crypto.com exchange, a move widely interpreted as preparation for a potential sale of the company’s digital asset holdings.
The transfer is confirmed by on-chain data tracking By blockchain analytics firm Lookonchain, two transactions occurred between approximately 1:22 a.m. and 2:22 a.m. GMT on May 22, originating from wallets classified as Trump Media accounts by Arkham Intelligence.
The company has not yet issued any official statement confirming or denying the intention behind this step.
Trump media originally Purchased 11,542 BTC for approximately $1.37 billion at an average purchase price of $118,522 per coin.
With Bitcoin trading around From $77,000 to $77,300 at the time of conversion – well below this cost basis – the company is now estimated to have unrealized losses of around $455 million on its cryptocurrency holdings. Following the deal, Trump Media’s on-chain video holdings amount to an estimated 6,889 to 6,892 bitcoins, worth an estimated $533 million at current prices.
This is not the first time the company has removed Bitcoin from its books.
Four months ago, Trump Media transferred 2,000 bitcoins worth roughly $175 million — at the time, with bitcoin trading near $87,378 — in what the company later described as a collateral move.
Withdrawal of Trump Bitcoin ETF
The latest cryptocurrency transfer comes just days after Trump Media withdraw Its applications for the spot Bitcoin ETF and the combined Bitcoin-Ethereum ETF filed with the US Securities and Exchange Commission on May 20.
The company’s financial sponsor, Yorkville America, has filed to withdraw, citing a decision not to pursue a public offering “at this time.”
ETF analysts noted that the decision appeared driven less by regulatory headwinds and more by competition from established players such as BlackRock and Morgan Stanley, who now dominate what has become a $57 billion Bitcoin ETF market.
The Bitcoin strategy coincided with a significant deterioration in Trump Media’s financial conditions. The company said in its earnings report for the first quarter of 2026 to publish A net loss of $405.9 million on revenue of just $871,200 — a staggering widening from a loss of $31.7 million during the same period a year earlier. The bulk of these losses, approximately $368.7 million, arose from unrealized non-cash losses on digital assets and securities.
DJT shares are down nearly 60% over the past 12 months and were trading at about $7.95 to $8.15 on Thursday and Friday.
The company, founded in 2021 and headquartered in Sarasota, Florida, has struggled to build meaningful advertising revenue even as it bets heavily on cryptocurrencies as a mainstay of its financial strategy.
