Trump Media & Technology Group, the company behind Truth Social, has made another major move involving its Bitcoin holdings, extending a series of recent sales.
The company sold 2,628 Bitcoin (BTC) worth about $165 million through transfers to Crypto.com, blockchain analytics platform Lookonchain said in a Sunday X post, citing data from Arkham.
Lookonchain said Trump Media bought 11,542 BTC at an average price of $118,522 before beginning to sell portions of its holdings seven months ago.
The Bitcoin sales come as Trump-linked crypto ventures face broader scrutiny, with lawmakers debating the Digital Asset Market Clarity (CLARITY) Act and questions around ethics and digital asset ownership.
Trump Media’s Bitcoin holdings shrink 63%
The latest transfers bring Trump Media’s total reported Bitcoin sales over the past seven months to 7,281 BTC, worth about $545 million, according to Lookonchain’s analysis, which calculated an average selling price of $74,855 per BTC.
According to Arkham, the company’s remaining Bitcoin holdings stood at 4,261 BTC at publishing time, worth $269.8 million.
Source: Arkham
Arkham’s wallet data showed two recent transfers from Trump Media-linked wallets to Crypto.com, including one transaction of 2,429 BTC and another of 198.9 BTC.
The latest transfers follow two earlier Bitcoin movements to Crypto.com recorded on May 22, when Trump Media-linked wallets transferred a combined 2,650 BTC worth about $205 million.
Trump-linked crypto interests face ethics scrutiny
The Bitcoin sales come as lawmakers debate the CLARITY Act, which has drawn scrutiny over ethics rules, digital asset ownership and potential conflicts of interest involving public officials, including concerns raised by critics about US President Donald Trump’s crypto ventures.
Critics have pointed to Trump-linked crypto ventures, including the Official Trump (TRUMP) and Melania (MELANIA) memecoins, as well as World Liberty Financial’s WLFI governance token and USD1 stablecoin, in discussions over the overlap between political influence and private crypto interests.
Related: Senator Schumer proposes agency to address corruption, including Trump’s crypto ventures
Recent CLARITY Act discussions have focused on tightening ethics provisions, including rules around officials issuing or sponsoring digital assets, but the legislation remains under consideration and does not require companies to sell existing crypto holdings.
The transactions came amid Trump Media launching its new paid data service “Truth API,” providing faster access to Truth Social posts from President Trump. The service reportedly costs as much as $100,000 per month, giving companies a “direct, licensed, real-time feed of the platform’s most market-moving Truths.”
Magazine: Here’s why the CLARITY Act’s ethics deal may be so hard to reach
