Trump Media & Technology Group (DJT) has transferred another 2,650 bitcoin to Crypto.com, worth roughly $205 million at current prices. The move deepens scrutiny of the company's struggling crypto strategy.
Trump Media originally bought 11,542 BTC for about $1.37 billion, averaging $118,522 per coin. Bitcoin is now trading near $77,341, putting the company down roughly $455 million on its holdings. This follows an earlier transfer of 2,000 BTC four months ago.
The transfer comes days after Trump Media withdrew its spot bitcoin ETF application, citing deteriorating economics in the sector. The company also reported a staggering first-quarter net loss of $405.9 million on just $871,200 in revenue, widening sharply from a $31.7 million loss a year earlier.