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Trump Media’s bitcoin stash may be down to loan collateral after $165 million BTC move
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NFT Evening - Latest Crypto News on Bitcoin, Ethereum
Wallets linked to Trump Media & Technology Group transferred an additional 2,628 BTC, worth approximately $165.07 million, to Crypto.com on August 2, according to Lookonchain data.
Accompanying data showed two major transactions from wallets labeled by Arkham as Trump Media, including approximately 198.964 BTC and 2,429 BTC.
Why Crypto.com Does Not Prove a SaleA transaction to Crypto.com does not automatically prove Trump Media sold bitcoin.
With an average purchase price of around $118,522 per BTC, Trump Media’s bitcoin position faces pressure as BTC trades around the $63,000 level in early August.
If the contracts were settled, the status of the 2,000 BTC collateral would have shifted significantly.