Trump Media sends 4,259 bitcoin to Crypto.com
Lookonchain tracked the $343.67m transfer, which hit the blockchain about 40 minutes before the report was published.
Key takeaways
- 14,259 BTC transferred to Crypto.com
- 2$343.67m value of the transfer
Trump Media & Technology Group moved 4,259 bitcoin, worth about $343.67m, to the Crypto.com exchange roughly 40 minutes before the report was published. The transfer was recorded on the Bitcoin blockchain and is the latest large on-chain move by the media firm.
Lookonchain, an on-chain analytics service that monitors large wallet activity, identified the transaction. The service said the wallets linked to Trump Media sent the coins to a Crypto.com deposit address, flagging the move as one of the biggest single-day transfers by a listed company in recent months.
Trump Media, the parent of the Truth Social platform, has used Bitcoin as part of its corporate treasury, a strategy disclosed in earlier filings. Bitcoin remains the top cryptocurrency by market value, trading at $80,716 with a total market value of roughly $1.6tn.
The deposit could indicate a plan to sell or re-allocate the holdings, a development that may temper bullish sentiment around the asset. Market participants will watch Crypto.com for any sell orders and continue to track Trump Media’s on-chain activity. Further comments from the company or regulatory filings will provide clearer direction.
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Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.