Crypto wallets associated with Trump Media and Technology Group, the company behind Truth Social, transferred 2,628 bitcoin (BTC) worth about $165 million to Crypto.com in two transactions on Saturday, per onchain data.
Onchain analytics firm Lookonchain, which flagged the transfers in an X post, characterized the move as a likely sale.
The onchain data establish only that the BTC was moved to Crypto.com, not that it was sold.
Crypto.com is one of the two custodians the firm chose when establishing its bitcoin treasury strategy in May 2025, alongside Anchorage Digital.
A Trump Media spokesperson told The Block shortly after publication that the BTC was transferred to Crypto.com but not sold, matching the firm's explanation for a similar transfer in May.
