Trump Media Transfers Bitcoin to Exchange as Unrealized Losses Reach $455 Million
By sterlingashworth // 2026-05-28
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Trump Media & Technology Group (Nasdaq: DJT) transferred 2,650 Bitcoin worth approximately $205 million to the exchange Crypto.com on May 22, 2026, a move widely interpreted as preparation for a potential sale, according to on-chain data from blockchain analytics firm Lookonchain. The transfer occurred in two transactions originating from wallets labeled as Trump Media accounts by Arkham Intelligence, the data showed. The company has not issued an official statement confirming the intent to sell, according to reports. [1] Unrealized losses on the company’s Bitcoin holdings have reached an estimated $455 million, given that Trump Media originally purchased 11,542 BTC for approximately $1.37 billion at an average acquisition price of $118,522 per coin, while Bitcoin was trading around $77,300 at the time of the transfer. Following the transaction, the company’s visible on-chain holdings stand at approximately 6,889 to 6,892 BTC, valued at about $533 million at current prices. [1]

Background of Bitcoin Purchase and Losses

Trump Media originally acquired 11,542 Bitcoin for approximately $1.37 billion at an average cost of $118,522 per coin, according to the report from Bitcoin Magazine. With Bitcoin trading well below that cost basis -- around $77,000 to $77,300 on May 22 -- the company’s unrealized losses on its entire crypto holdings have swelled to roughly $455 million. The company’s aggressive pivot into cryptocurrency was part of a broader strategy announced in mid-2025, when Trump Media stated it acquired about $2 billion in Bitcoin and related assets. [2] That crypto bet came during a period of heightened political and market optimism around digital assets, following President Donald Trump’s return to the White House in January 2025. Industry observers noted that the Republican Party’s 2024 platform included a promise to “defend the right to mine bitcoin” and promote crypto innovation, signaling a regulatory shift. [3] Despite this favorable backdrop, the company’s investment timing proved unfavorable as Bitcoin prices declined from highs above $109,000 on Inauguration Day 2025 to current levels. [4]

Previous Transfers and ETF Withdrawal

This is not the first time Trump Media has moved Bitcoin to an exchange. Four months prior, the company shifted 2,000 BTC valued at roughly $175 million, which officials later characterized as a collateral movement rather than a sale, according to the report. The latest transfer of 2,650 BTC on May 22 again raised questions about the company’s intent, though some representatives indicated no sale had occurred, describing the action as part of an expanded “trading strategy.” [5] The crypto transfer came just two days after Trump Media withdrew its applications for a spot Bitcoin ETF and a combined Bitcoin-Ethereum ETF from the Securities and Exchange Commission on May 20. The company’s fund sponsor, Yorkville America, filed for withdrawal, citing a decision not to pursue the public offering “at this time.” ETF analysts said the decision appeared driven less by regulatory hurdles and more by competition from established players like BlackRock and Morgan Stanley, which dominate the $57 billion Bitcoin ETF market. [1] The move also follows a nonbinding agreement between Trump Media and Crypto.com in March 2025 to launch “America First” ETFs, which had initially boosted the stock. [6]

Financial Performance and Stock Decline

Trump Media’s Bitcoin strategy has coincided with a sharp deterioration in its financial performance. In its first-quarter 2026 earnings report, the company posted a net loss of $405.9 million on just $871,200 in revenue -- a staggering increase from a $31.7 million loss in the same period a year earlier. The bulk of that loss, approximately $368.7 million, stemmed from non-cash unrealized losses on digital assets and equity securities, according to the company’s filing. [1] Shares of DJT have fallen roughly 60% over the past 12 months and traded between $7.95 and $8.15 on May 22 and May 23, according to market data. The company, founded in 2021 and headquartered in Sarasota, Florida, has struggled to build meaningful advertising revenue even as it has aggressively bet on crypto as a core pillar of its financial strategy. [1] The losses have intensified scrutiny from investors and analysts who question the sustainability of the company’s business model.

Broader Context and Analyst Perspectives

Trump Media’s foray into cryptocurrency reflects a broader trend of companies and political figures embracing digital assets for both ideological and financial reasons. The Trump family has built a multibillion-dollar crypto empire since Donald Trump’s return to the White House, according to a NaturalNews.com investigation that cited SEC filings, blockchain data, and reports from BBC, Reuters, and Bloomberg. [7] The investigation noted patterns of insider trading and conflicts of interest, though regulators and lawmakers have remained largely silent. ETF analysts said the withdrawal of Trump Media’s ETF applications underscores the competitive dominance of established financial giants. “The decision appeared driven less by regulatory headwinds and more by competition from established players like BlackRock and Morgan Stanley, which now dominate what has become a $57 billion Bitcoin ETF market,” according to the Bitcoin Magazine report. [1] A representative for Trump Media did not respond to requests for comment on the Bitcoin transfer, the report stated. [1] As the company navigates mounting losses and a declining stock price, its reliance on volatile digital assets remains a central risk factor, according to market observers.

References

  1. Micah Zimmerman. "Trump Media (DJT) Moves To Sell Bitcoin As Losses Reach $455 Million". Bitcoin Magazine. May 22, 2026.
  2. Kevin Hughes. "Trump Media and Technology Group Acquires $2 Billion in Crypto Assets". NaturalNews.com. July 24, 2025.
  3. (No author). "Trends-Journal-2024-07-30".
  4. Lance D Johnson. "Trump's crypto-friendly Presidency sparks optimism and uncertainty in digital asset markets". NaturalNews.com. January 23, 2025.
  5. CoinDesk. "Trump Media moved but 'did not sell' $205 million in bitcoin amid mounting losses". May 23, 2026.
  6. Willow Tohi. "Trump Media and Crypto.com forge ETF partnership: A political and financial gamble". NaturalNews.com. March 26, 2025.
  7. NaturalNews.com. "Trump family’s crypto empire: Billions in suspicious gains, zero accountability". April 28, 2026.
  8. Brett King. "Bank 4.0: Banking Everywhere, Never at a Bank".

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