Trump Media-linked wallets transferred 2,628 Bitcoin, valued at approximately $165 million, to Crypto.com on August 2, according to on-chain analytics firm Lookonchain. The movement left roughly 4,261 BTC remaining in the tracked wallets. Trump Media — the Nasdaq-listed parent company of Truth Social — has not confirmed that the transfer constituted a sale.

An exchange deposit can precede a sale but may also reflect custody arrangements, collateral posting, or an internal transfer. As of August 2, no company statement or SEC filing had explained the movement.

It looks like Trump Media sold another 2,628 $BTC ($165.07M). Trump Media bought 11,542 $BTC ($1.37B) at an average price of $118,522, then started selling 7 months ago, selling a total of 7,281 $BTC ($545M) at an average price of $74,855. Trump Media is now down a total of $555M… pic.twitter.com/9xx0MTbweg

— Lookonchain (@lookonchain) August 2, 2026

https://x.com/lookonchain/status/2083729126725497083

Acquisition History and Company-Confirmed Holdings

According to Lookonchain, Trump Media originally acquired 11,542 BTC for approximately $1.37 billion, equating to an average cost of $118,522 per coin. The acquisition placed the company among a group of publicly traded firms that hold large Bitcoin treasuries, a strategy also used by companies such as MicroStrategy. The analytics firm's post suggested the company appeared to have sold an additional 2,628 BTC, though it acknowledged the conclusion remained uncertain.

Trump Media's March quarterly filing provides the latest company-confirmed figures. It listed 9,542.16 BTC on hand as of March 31, with a cost basis of $1.131 billion and a fair value of $647.1 million. The filing recorded no change in the Bitcoin count during the first quarter. It also identified 4,260.73 BTC as collateral for convertible notes — debt securities that can convert into company stock — coins that cannot be withdrawn or distributed unless the company meets specified indenture terms. Those collateral restrictions are set to end no later than May 29, 2028.

The 4,261 BTC remaining in the tracked wallets closely matches the pledged collateral amount. However, public wallet labels alone do not establish the accounting or legal status of those coins.

The $555 Million Loss Estimate

Lookonchain estimated that 7,281 BTC had left the linked wallets over a seven-month period, at an average transfer price of $74,855 and a combined value of approximately $545 million. The account then calculated a $555 million realized and unrealized Bitcoin loss.

Trump Media has not confirmed that estimate. The figure assumes exchange deposits translated into sales at observed market prices and also combines possible realized losses with the diminished market value of remaining holdings.

The March filing showed a steep decline in Bitcoin's fair value. However, Trump Media stated it had not recorded material realized losses on the assets as of that reporting date. Notably, Trump Media-linked wallets previously transferred 2,650 BTC to Crypto.com on May 22 without the company confirming a sale. A company representative said at the time that the May transfer was not a sale.

Truth API Draws Regulatory Scrutiny

The August 2 transfer came after Trump Media launched its Truth API earlier in the month. The subscription-based service provides organizations with faster access to certain posts on Truth Social.

US Senators Adam Schiff and Elizabeth Warren requested that the SEC investigate whether the platform contravened securities regulations. They argued that providing quicker access to market-moving posts from the president would disadvantage regular users.

Trump Media reported a $405.9 million net loss for the first quarter of 2026. The result included $244 million in unrealized losses on digital and pledged assets, along with a $108.2 million investment loss.

As of August 2, Trump Media had not classified the latest 2,628 BTC transfer as a completed sale.