Lookonchain reported that 4,259 Bitcoin worth approximately $344 million were transferred to Crypto.com from wallets it said belonged to Trump Media.
According to a post published by the on-chain data platform on the morning of November 5, the transfer took place about 40 minutes before the announcement. The post valued the transferred Bitcoin at $343.67 million.
Thousands of Bitcoin Moved to an Exchange
Lookonchain identified Crypto.com as the recipient of the transfer, linked the transaction to Trump Media, and raised the question of whether the company was selling Bitcoin. Attention thus turned to what would happen to the 4,259 BTC sent to the exchange.
The transfer to the exchange indicates that the assets were moved to a platform where they can be traded; however, the reported data contains no information confirming a completed sale. It is therefore still unclear whether the move is preparation for a sale.
Not investment advice.