cryptobriefing.com
05 November 2026 05:06, UTC
A wallet linked to Trump Media & Technology Group sent 4,259 Bitcoin worth approximately $344 million to Crypto.com on Wednesday, the same day the company’s shares dropped 24.5% to a record low following the US midterm elections.
Meanwhile, the TRUMP meme coin fell 16% over 24 hours to a new all-time low.
The transaction was flagged by blockchain analytics firm Lookonchain, although there has been no confirmation that the transfer represents a sale.
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The amount closely matches the 4,261 $BTC Trump Media disclosed as collateral against convertible notes as of June 30, 2026. The company also had another 2,077 $BTC pledged to support an options strategy.
Trump Media held 9,477 $BTC worth approximately $557 million at the end of Q2, down from 9,542 $BTC three months earlier.
The company reported a $238 million quarterly net loss, including more than $190 million in unrealized losses and markdowns on digital asset and equity holdings. Its digital asset losses reached $361 million in the first half of 2026.
The company also disclosed holding 756 million Cronos ($CRO) tokens, valued at approximately $41 million based on current market prices.
However, in August, it terminated its planned $CRO treasury venture and scaled back other agreements with Crypto.com, the major exchange behind the Cronos blockchain.
