Trump Media & Technology Group (Nasdaq: DJT), the parent entity of the Truth Social platform, has transferred an additional 2,650 Bitcoin, approximately valued at $205 million, to the Crypto.com exchange. This transaction is widely interpreted as a strategic move in anticipation of a possible liquidation of the company’s digital asset portfolio.
This transfer, validated by on-chain data from blockchain analytics firm Lookonchain, occurred in two separate transactions between approximately 1:22 a.m. and 2:22 a.m. GMT on May 22, originating from wallets identified as Trump Media accounts by Arkham Intelligence.
As of now, the organization has not released an official statement confirming or refuting the rationale behind this financial maneuver.
Initially, Trump Media acquired 11,542 BTC for around $1.37 billion, at an average purchase price of $118,522 per coin. With Bitcoin currently trading between $77,000 and $77,300 at the time of the transfer—substantially below their original acquisition cost—the company is estimated to be facing unrealized losses of approximately $455 million on its cryptocurrency holdings. Following this transaction, Trump Media’s reported on-chain holdings are estimated to be between 6,889 and 6,892 BTC, valued at about $533 million based on current market prices.
This transaction is not the first instance of the company reallocating its Bitcoin assets.
Earlier this year, Trump Media moved 2,000 BTC, worth roughly $175 million, when Bitcoin was valued near $87,378, a relocation that the company later described as a collateral adjustment.
Withdrawal from Bitcoin ETF Applications
The recent cryptocurrency transfer follows the company’s withdrawal of its applications for a spot Bitcoin ETF and a combined Bitcoin-Ethereum ETF from the U.S. Securities and Exchange Commission on May 20.
The company’s fund sponsor, Yorkville America, submitted the withdrawal, citing a decision to refrain from pursuing the public offering “at this time.”
Analysts focusing on ETFs have noted that the withdrawal appears to stem more from competitive pressures exerted by established entities like BlackRock and Morgan Stanley, who currently dominate a market that has grown to encompass $57 billion in Bitcoin ETFs, rather than from regulatory challenges.
This strategic pivot in Bitcoin holdings coincides with a significant decline in Trump Media’s financial performance. In its first-quarter 2026 earnings report, the company reported a net loss of $405.9 million, with revenue amounting to only $871,200. This substantial loss reflects a considerable deterioration from a $31.7 million loss during the same timeframe the previous year. The majority of these losses, approximately $368.7 million, are attributed to non-cash unrealized losses on digital assets and equity securities.
Over the past year, DJT shares have experienced a decline of roughly 60%, trading at approximately $7.95 to $8.15 on Thursday and Friday.
Established in 2021 and headquartered in Sarasota, Florida, the company continues to struggle in generating significant advertising revenue, despite its aggressive strategy to integrate cryptocurrency as a core component of its financial framework.
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