Trump Media (DJT) Moves to Sell Bitcoin as Losses Reach $455 Million
Bitcoin Magazine
Trump Media has transferred $205 million in Bitcoin to Crypto.com as it faces significant unrealized losses on its digital asset holdings.Summary
Trump Media & Technology Group (DJT) has transferred 2,650 Bitcoin, valued at approximately $205 million, to the exchange Crypto.com, signaling a potential move to divest its crypto assets. The company is currently facing roughly $455 million in unrealized losses following its initial investment of 11,542 BTC, which was purchased at a significantly higher average cost than current market prices. This move follows the company's recent withdrawal of its Bitcoin and Bitcoin-Ethereum ETF applications and comes amidst ongoing financial instability, including a reported first-quarter net loss of $405.9 million.
(Source：Bitcoin Magazine)