Trump Media moves another $205 million in bitcoin as losses on crypto bet swell to $455 million
CoinDesk
Trump Media & Technology Group transferred $205 million in bitcoin to Crypto.com, bringing total unrealized losses on its crypto investment to $455 million.Summary
Trump Media & Technology Group (DJT) has transferred 2,650 BTC, valued at approximately $205 million, to the Crypto.com exchange. This follows a previous transfer of 2,000 BTC earlier this year, signaling an ongoing exit from its aggressive digital asset strategy. Having purchased its holdings at an average price of $118,522 per bitcoin, the company now faces cumulative losses of $455 million due to the cryptocurrency trading significantly below that entry point. These financial pressures, compounded by the recent withdrawal of a spot bitcoin ETF application, have led to significant scrutiny of the firm's fiscal health, especially after reporting a $405.9 million quarterly loss earlier this year.
(Source：CoinDesk)