Trump Media & Technology Group shifted another 2,628 Bitcoin on August 2, worth roughly $165 million at the time. The move follows a similar transfer of 2,650 BTC on May 22 to a Crypto.com-linked address. Combined, the two transactions account for 5,278 BTC — leaving just 3.43 BTC of the 5,281.43 BTC that wasn't already pledged as note collateral or tied up in options arrangements.
The latest transfer
The August 2 transaction was flagged by blockchain tracker Lookonchain. It's the second large outflow from the company's known wallet this year. The May transfer went to an address associated with Crypto.com, one of Trump Media's stated custody partners. The destination of the latest batch hasn't been publicly identified, and Lookonchain's post doesn't show the full transaction path or final destination.
What the balance sheet shows
As of March 31, Trump Media reported holding 9,542.16 BTC. Of that, 4,260.73 BTC was pledged as collateral on a note. Another 2,000 BTC was locked up under covered-call arrangements on 4,000 BTC, with the counterparty able to reuse the collateral. Those options expired June 30, and the company hasn't disclosed what happened after expiry. Simple arithmetic suggests the remaining unencumbered, un-optioned BTC was about 5,281.43 BTC. After the two transfers, only 3.43 BTC of that pool is left in the wallet that was tracked.
But the arithmetic doesn't prove a sale. Wallet labels and visible balances can't show all assets held through custodians, and transferred coins may still be under company control.
Custody and yield efforts
Trump Media said in 2025 that Crypto.com and Anchorage Digital would provide custody for its Bitcoin treasury. Interim CEO Kevin McGurn said on May 26 that treasury movements generally reflected account diversification and yield efforts. He didn't connect that statement to specific coins or provide an updated Bitcoin count. The company hasn't issued a new public figure since the March 31 filing.
Unanswered questions
The Lookonchain data provides no evidence of trade execution. It doesn't show whether the coins were sold, moved to another custodian, or simply rebalanced. The company also hasn't addressed the status of the covered-call options that expired in June. Separately, Bitcoin treasuries across the industry faced two collateral calls in 2026, and Empery disclosed two February calls. But missing collateral balances and trigger ratios make it impossible to rank which treasury is closest to another lender demand. For now, the only certainty is that Trump Media's visible Bitcoin holdings have dropped sharply — and the company isn't saying why.
