Trump Media & Technology Group sent 2,650 Bitcoin — worth about $205 million at current prices — to the Crypto.com exchange this week, according to blockchain data flagged by analytics firm Lookonchain. The transfer follows a similar move four months ago, when the company moved 2,000 BTC valued at roughly $175 million. TMTG now holds an estimated 6,889 Bitcoin, down from a peak of 11,542 coins accumulated at an average cost of $118,522 each.
Two big transfers in four months
The latest deposit to Crypto.com was detected on-chain by Lookonchain. Exchange transfers don't always confirm a sale — sometimes it's a custody shift or liquidity preparation — but the pattern is clear: TMTG is moving its digital assets off its own treasury and onto a trading platform. After the first 2,000 BTC outflow in January, the company reported 9,542 Bitcoin in its Q1 earnings statement. This second move cuts that figure by more than a quarter.
At Bitcoin's current price near $77,700, the remaining 6,889 BTC represents an unrealized shortfall of roughly $455 million compared to the original purchase price. The average entry of $118,522 per coin leaves the position about 34% underwater.
Losses mount at Trump Media
TMTG reported a $406 million net loss earlier this month. The bulk of that — $368.7 million — came from unrealized markdowns on digital assets and equity securities. The company's Bitcoin holdings have been a drag on earnings since the crypto market turned south last year.
The timing isn't great. TMTG's core business, Truth Social, hasn't turned a profit, and the company's cash position is under scrutiny from investors. Moving Bitcoin to an exchange could signal an intention to sell, though the company hasn't confirmed any such plan.
A small but curious bet on Cronos
Beyond Bitcoin, TMTG also holds 756 million Cronos (CRO) tokens, valued at about $2.64 million. That's a tiny position relative to its Bitcoin stash, but it shows the company is willing to dabble in altcoins as part of its treasury strategy. Cronos is the native token of the Crypto.org chain, the same ecosystem that powers Crypto.com.
What happens to the remaining 6,889 BTC?
TMTG hasn't announced any further transfers. But with a $455 million paper loss and a net loss that already includes billions in write-downs, the pressure to raise cash is real. The company's Q1 disclosure put its total digital asset holdings at 9,542 BTC plus the CRO tokens. After this week's move, that number is lower. Investors will be watching for TMTG's next regulatory filing to see whether the Bitcoin was sold or simply moved.
