Trump Media transfers $344 million in Bitcoin to Crypto.com wallet

4 min

Trump-linked crypto assets and equities fell as Trump Media moved 4,259 BTC, about $344 million, from wallets tied to its convertible-note collateral to a Crypto.com-linked deposit address. The transfer, flagged by Lookonchain at 03:00 UTC, comprised two transactions of 2,140.04 BTC and 2,119.31 BTC confirmed in block 974,613 at 02:17 UTC. The move followed a record low in the TRUMP memecoin and declines in other Trump-related instruments after Democrats outperformed in the US midterms, while Bitcoin rose above $80,000.

Key facts on the Bitcoin transfer

Trump Media’s Q2 10-Q reported 4,260.73 BTC as collateral for its convertible notes with restrictions lifted no later than May 29, 2028. Thursday’s outgoing total: 4,259.35 BTC. Both source wallets are now empty. The receiving address, 34jvUbzJ…yMy, has previous links to Crypto.com deposits and received 2,649.9 BTC from Trump Media on May 22 and 2,628.3 BTC on August 1, later swept into a large pooled wallet holding about 17,330 BTC from multiple users.

Once coins enter a pooled exchange wallet, onchain data cannot distinguish between sale, lending, or custody. Trump Media has not commented on the transfer.

Liquidity needs and potential sales

A registration statement filed November 2 states holders of Trump Media’s $1 billion convertible notes can force a cash repurchase on November 30, 2026. The company said it could be required to pay up to approximately $1.0 billion and listed potential funding measures, including selling its bitcoin or other digital assets. At about $80,600 per BTC, the 4,259 BTC moved equate to roughly one-third of that potential liability. Trump Media’s Bitcoin holdings declined to 9,477.16 BTC on June 30 from 9,542.16 at year-end 2025, and it booked a $360.6 million digital-asset loss in the first half.

Other Trump-affiliated crypto exposure

American Bitcoin, co-founded by Eric Trump, increased reserves to about 8,427 BTC at end-September from 8,002 in June. It mined about 891 BTC in the quarter and retained about 425 after selling a portion to cover operating costs, indicating routine miner selling rather than treasury liquidation.

Performance of Trump-linked assets

Most Trump-branded instruments traded near lows, excluding the stablecoin:

Official Trump (TRUMP): $1.26, −15.2% 24h, −98.3% from $73.43 peak.
World Liberty Financial (WLFI): $0.0468, −3.5% 24h, −85.9% from peak.
USD1 stablecoin: $1.00, supply $3.70 billion, holding its peg.
Trump Media (DJT): $4.49, −48% in a month, −74% from 52-week high; near 52-week low $4.46. Shareholders vote December 14 on all-stock merger with TAE Technologies.
American Bitcoin (ABTC): $6.24, −26% in a month; near 52-week low. Reported Q3 net income about $126 million, driven by a $197 million Bitcoin revaluation gain.

Prices: Binance at 09:00 UTC Thursday for tokens, CoinGecko for peaks and USD1 supply, and Wednesday’s Nasdaq closes for stocks.

TRUMP price levels

TRUMP traded at $1.26, below the 20-day EMA at $1.63 and 50-day EMA at $1.78. Wednesday’s $1.219 set a new all-time low with no prior support below it.

TRUMPUSDT 1D chart. Source: TradingViewTradingView

Rebound: daily close above $1.396 targets the 20-day EMA near $1.63.
Range: between $1.219 and $1.396 implies sideways action near $1.26.
Sell-off: daily close below $1.219 opens $1.00 as the next round-number level.

Read-through for market sentiment

Onchain evidence confirms transfers to an exchange-linked address but not dispositions. The November 30, 2026 put option on $1 billion of notes and explicit disclosure that Bitcoin sales may fund repurchases increase the probability of eventual selling. Additional pre-deadline transfers to the same exchange address would signal sustained pressure on Trump-branded crypto assets.