{
  "id": 71977,
  "title": "Trump Media’s bitcoin stash may be down to loan collateral after $165 million BTC move",
  "url": "https://urgent.news/2026/08/03/trump-medias-bitcoin-stash-may-be-down-to-loan-collateral-after-165",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-03T05:52:29.000Z",
  "source": {
    "name": "CoinDesk",
    "slug": "coindesk",
    "url": "https://www.coindesk.com/markets/2026/08/03/trump-media-s-bitcoin-stash-may-be-down-to-loan-collateral-after-usd165-million-btc-move"
  },
  "original_language": "en",
  "account": "Trump Media's Bitcoin holdings have dwindled significantly since December, with a recent transfer of 2,628 Bitcoins, valued at approximately $165 million, to Crypto.com as per Arkham data. This action has effectively depleted the discretionary Bitcoin position, leaving around 4,261 Bitcoins, valued at roughly $268 million with the current rate of $63,000 per Bitcoin.\n\nThe company's first-quarter filing revealed that 4,260.73 Bitcoins were used as collateral for its convertible notes, secured by Trump Media. These bitcoins were allegedly restricted from distribution or withdrawal until the notes mature on May 29, 2028. However, Trump Media has not explicitly confirmed that the remaining balance is indeed collateral, nor have they specified the exact nature of the tagged wallets.\n\nCoinDesk previously reported a similar pattern in May, where the company transferred 2,650 Bitcoins worth about $205 million to Crypto.com, with Bitcoin's price at $77,341. The unrealized loss at that time stood at around $455 million. Another transfer in January saw 2,000 Bitcoins worth approximately $175 million sent to Crypto.com, following a price of $87,378.\n\nSince December, Trump Media purchased 11,542 Bitcoins for about $1.37 billion at an average price of $118,522 each, close to the peak of last year's cycle. Since then, wallets linked to the company have moved out 7,281 Bitcoins. Onchain analytics firm Lookonchain noted that these movements amounted to sales averaging $74,855 per coin, resulting in roughly $318 million in realized losses and another $237 million sitting unrealized.\n\nThe treasury has been shrinking faster than the business it supports. In Q1, Trump Media posted a net loss of $405.9 million on $871,200 in revenue, with $368.7 million of the loss coming from markdowns on digital assets and equity holdings. This includes 756 million Cronos tokens acquired through the Crypto.com partnership, which has facilitated two of these transfers. Crypto.com, along with Anchorage Digital, serves as one of the company's two named custodians. A deposit to Crypto.com would be considered a custody move, while a sale would be reflected directly on the company's income statement.\n\nThe direction of these transactions has remained consistent, and it remains to be seen how these wallet movements will be reflected in the company's second-quarter 10-Q filing.",
  "summary": "Wallets tied to the Truth Social parent now hold about as much bitcoin as the company previously pledged as note collateral, making its next 10-Q the key test of whether recent Crypto.com transfers were custody moves or sales.",
  "key_points": [
    "Trump Media transferred 2,628 Bitcoins ($165 million) to Crypto.com",
    "4,261 Bitcoins ($268 million) remain as collateral for convertible notes",
    "Company purchased 11,542 Bitcoins ($1.37 billion) since December"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}