Trump Media Cuts More Bitcoin Holdings As Losses Grow
Trump Media & Technology Group has moved another large portion of its Bitcoin holdings to Crypto.com, adding to growing scrutiny over its cryptocurrency strategy after building a billion-dollar treasury close to the market's peak.
Blockchain data tracked by Lookonchain shows the company transferred 2,628 Bitcoin (BTC), valued at around US$165 million, to the exchange.
While transfers to an exchange do not prove a sale took place, they allow assets to be sold or used for other corporate purposes at short notice.
The latest transaction follows an earlier disposal this year, bringing the total amount moved by Trump Media during 2026 to 7,281 BTC.
Bitcoin Bet Continues To Weigh On The Company
Trump Media originally accumulated 11,542 BTC for approximately US$1.37 billion, paying an average of US$118,522 per Bitcoin.
That purchase price was close to Bitcoin's record high of about US$126,080 reached in October 2025.
According to Lookonchain, the company has disposed of 7,281 BTC at an average price of around US$74,855.
Based on those figures, the combined realised and unrealised losses have climbed to roughly US$555 million.
Bitcoin is currently trading near US$63,471, well below the average price Trump Media paid to build its treasury.
The company's first-quarter filing with the US Securities and Exchange Commission also highlighted the impact of falling crypto prices, reporting a US$243.96 million mark-to-market loss on its digital assets.
That contributed to a quarterly net loss of US$405.9 million.
Why Can't Trump Media Sell The Remaining Bitcoin
After the latest transfer, wallets linked to Trump Media still hold about 4,261 BTC, worth roughly US$268 million at current market prices.
However, those remaining holdings are largely unavailable for sale.
The company's filing shows that 4,260.73 BTC had been pledged as collateral for convertible notes as of 31 March 2026.
Under the loan agreement, those Bitcoin can only be withdrawn or disposed of if specific conditions are met.
The restrictions remain in place until no later than 29 May 2028, when the convertible notes mature.
Truth API Launch Faces Political Criticism
The Bitcoin transfers came as Trump Media rolled out its new Truth API service, offering institutional customers faster access to posts published on President Donald Trump's Truth Social platform.
The premium service reportedly costs as much as US$100,000 per month.
The launch has already attracted political criticism.
In a letter to the US Securities and Exchange Commission, Democratic Senators Elizabeth Warren and Adam Schiff described the service as "an example of using the presidency for personal gain."
Crypto Strategy Faces More Questions
Trump Media has maintained close ties with Crypto.com beyond its Bitcoin transfers, including partnerships related to cryptocurrency exchange-traded funds and shareholder reward tokens.
However, the company withdrew applications in May for its proposed Truth Social Bitcoin ETF and Bitcoin and Ethereum ETF.
The latest Bitcoin transfer also comes as several public companies rethink their crypto treasury strategies.
While many businesses continue holding Bitcoin as a reserve asset, others have reduced their exposure or paused further purchases as price volatility continues to affect both company balance sheets and quarterly earnings.