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XMR$637.03Trump Media moves 4,259 BTC (~$342M) to Crypto.com
Trump Media wallets sent 4,259 BTC to Crypto.com, nearly matching the coins pledged for its convertible notes. Holders may demand up to $1B in cash on Nov 30.
Trump Media & Technology Group moved 4,259 BTC (about $342 million) to Crypto.com, according to blockchain analytics firm Arkham as reported by CoinDesk. The coins left wallets labeled as 2028 convertible-note collateral in two transactions of 2,140.03 and 2,119.31 BTC. Lookonchain flagged the move at 02:17 UTC on Nov 5 (9:17 PM ET on Nov 4), per crypto.news.
Details
The amount nearly matches the 4,260.73 BTC the company disclosed in its filings as pledged against its convertible notes, a gap of about 1.4 BTC. It equals roughly 30% of the 14,139 BTC Trump Media reported holding as of July 31, pledged coins included.
On Nov 30, noteholders can demand cash repurchase of roughly $1 billion in principal. The company has warned in filings that it may need to "sell bitcoin or other digital assets" to fund it. It did not respond to CoinDesk's request for comment.
A transfer to an exchange does not by itself prove a sale. In May and August Trump Media sent about 2,600 BTC to Crypto.com and said both times that these were custody or trading management, not sales.
What this means for the market
Traders will watch whether the coins reach the order books and what the company says about the collateral before Nov 30. A large sale by a corporate holder could add selling pressure, but none has been confirmed. For the live price see the daily brief; coin page: Bitcoin.
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