Trump Media and Technology Group, the owner of Truth Social, is back in focus after new onchain movements tied to its bitcoin holdings. According to Lookonchain, wallets linked to the company transferred 2,650 BTC, worth roughly $205 million, to Crypto.com. Analysts interpreted the move as a possible sale, although a transfer to an exchange does not always prove that the coins have already been sold.

TMTG had previously built a large digital-asset position. Onchain analysts say the company accumulated bitcoin at a high average entry price and had already moved part of its holdings earlier, including about 2,000 BTC worth roughly $175 million. After the latest transfer, Arkham and Lookonchain estimates suggest the company may still hold around 6,890 BTC, valued near $532 million.

The crypto strategy has already weighed heavily on Trump Media’s financials. In the first quarter of 2026, the company reported a net loss of about $405.9 million, with a major part of the damage tied to mark-to-market losses on digital assets and securities. As bitcoin fell from levels above $110,000 to around $77,000, TMTG’s bitcoin bet shifted from a growth story into a balance-sheet risk.

The company has also pulled back from its crypto ETF plans. Truth Social recently withdrew applications for spot crypto exchange-traded funds, saying the timing was not right to enter that market.