Trump Media Moves 4,259 Bitcoin to Crypto.com

Trump Media Technology Group transferred 4,259 bitcoin to a Crypto.com-linked address in two transactions on November 5, a movement that nearly matches bitcoin the company previously reported pledging against convertible notes. Blockchain tracking data identified the sending wallets as linked to the collateral. The transfers do not establish that the bitcoin was sold, and the company has not publicly explained the move. The transferred amount was about 1.7 bitcoin below the 4,260.73 bitcoin that Trump Media’s June 30 filing said was pledged to secure convertible notes. The filing said withdrawals and distributions of that collateral were restricted under the debt agreements. The destination was linked to Crypto.com, which has also been used by the company for custody and trading-related transfers. A November 2 securities filing said eligible noteholders can require cash repayment on November 30, 2026. If all eligible holders exercise that option, Trump Media could face an obligation of approximately $1 billion. The company warned that its available resources might not be enough and said refinancing, additional borrowing or equity financing could be used to meet the obligation....