TLDR
- Trump Media moved 2,628 BTC worth about $165 million to Crypto.com in two August transactions.
- Tagged wallets now hold about 4,261 BTC, close to pledged convertible note collateral balances today.
- Company representatives said no Bitcoin sale occurred despite latest transfer to Crypto.com wallets this week.
- Trump Media bought 11,542 BTC at an average price of about $118,522 per coin previously.
- Truth API launched on August 1 as lawmakers requested an SEC review of the product.
Trump Media’s Bitcoin holdings came under fresh scrutiny after wallets linked to the Truth Social parent moved 2,628 BTC worth about $165 million to Crypto.com.
Trump Media Moves 2,628 BTC to Crypto.com
The transfers took place in two transactions during early August. Wallets tied to Trump Media later showed about 4,261 BTC remaining, worth roughly $268 million with Bitcoin near $63,000.
That remaining balance closely matches the 4,260.73 BTC listed as collateral for the company’s convertible notes. Those coins are restricted from distribution or withdrawal until the notes mature, no later than May 29, 2028.
Trump Media has not confirmed whether the remaining wallet balance represents the pledged collateral. The tagged wallets also may not capture every Bitcoin address controlled by the company.
Company representatives maintained that no sale occurred. However, Crypto.com is both a named custodian and a trading venue, meaning the same transfer path could represent custody movement or a sale.
The next second-quarter filing will be the key test. A sale would appear as a realized loss, while a custody transfer would not change the income statement.
Bitcoin Treasury Falls After Earlier Purchases
Trump Media originally bought 11,542 BTC for about $1.37 billion. The average purchase price was about $118,522 per coin, near the upper range of the previous market cycle.
Wallets linked to the company have since moved out 7,281 BTC. On-chain analytics firm Lookonchain described those movements as sales at an average price of $74,855 per coin.
Based on that estimate, realized losses from sold coins would total about $318 million. Paper losses on the remaining Bitcoin would add another estimated $237 million.
Trump Media’s crypto position already weighed on its first-quarter results, with the company reporting a $405.9 million net loss on $871,200 in revenue during the quarter.
Digital assets and equity holdings contributed $368.7 million in markdowns. Those holdings included 756 million Cronos tokens linked to the company’s partnership with Crypto.com.
The company’s Bitcoin reserve has now become harder to assess from public wallet flows alone. If the latest transfer was only custody-related, the balance sheet may remain unchanged.
Truth API Opens as Senators Seek SEC Review
The Bitcoin movement came as Trump Media launched Truth API for institutional customers on August 1. The paid data feed gives subscribers faster access to posts from leading Truth Social accounts.
Reported pricing reaches $100,000 per month, or $60,000 per month under a three-year commitment. One annual subscription at list price would exceed the company’s first-quarter revenue.
BREAKING: Trump Media has officially launched its new paid data service, providing faster access to Truth Social posts from President Trump.
The new service is called “Truth API” which gives firms “a direct, licensed, real-time feed of the platform’s most market-moving Truths,”…
— The Kobeissi Letter (@KobeissiLetter) August 1, 2026
Trump Media interim CEO Kevin McGurn said, “Markets already move on Truth Social posts.” He added that Truth API offers a “direct, licensed, real-time feed” of market-moving posts.
The product has drawn attention from Democratic lawmakers. Senators Elizabeth Warren and Adam Schiff asked the Securities and Exchange Commission to review whether the product violates securities laws.
They wrote,
“This appears to be an outrageous abuse of the President’s office for his personal benefit that undermines everyday investors and the integrity of our markets.”
The senators also cited President Trump’s stake in Trump Media and his market-moving social media posts. Their request now sits with the SEC as Trump Media expands its data licensing business.
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