The tweet was deleted by the author.
But we saved everything 🙂.
Trump Media transfers 4,259 BTC to Crypto.com as shares hit record low
Trump Media & Technology Group (DJT), a company linked to U.S. President Donald Trump, transferred 4,259 BTC worth approximately $343.67 million to cryptocurrency exchange Crypto.com. The amount closely matches the Bitcoin pledged by the company as collateral for $1 billion in convertible notes.
Blockchain analytics platform Lookonchain reported the transactions. According to Arkham Intelligence data, approximately 1.3 BTC remained in the tracked addresses after the transfers.
View post on X Loading...
The transaction attracted attention ahead of a date when bondholders will be able to demand repayment. However, the transfer of cryptocurrency to Crypto.com does not, by itself, confirm a sale.
Bitcoin transfer matches debt collateral holdings
According to Trump Media's financial filings, the company had pledged 4,260.73 BTC as collateral for convertible notes as of June 30. Holders have the right to convert the debt securities into shares under specified conditions.
The agreement restricts withdrawals of pledged assets until certain requirements are met or until May 2028. Therefore, the transfer does not necessarily indicate preparations for a sale.
Crypto.com serves as one of two custodians of Trump Media's Bitcoin reserves. In May, the company transferred 2,650 BTC to the platform, also prompting speculation about a potential sale.
At the end of June, Trump Media reported holdings of 9,477 BTC. Their acquisition cost was $1.01 billion, while their fair value was estimated at $557 million.
Bondholders can demand repayment on November 30
Under the terms of the debt obligations, investors will have the option to demand cash repayment of their notes at face value on November 30.
The conversion price is approximately $34.72 per share, while DJT shares closed at a record low of $4.49 on November 4. This gap makes converting the notes into shares less attractive.
Meanwhile, Trump Media held approximately $425 million in cash and short-term investments at the end of June, compared with roughly $1 billion in debt obligations. Potential repayment demands from creditors could put additional pressure on the company's financial reserves.
The developments come after Democrats won the U.S. congressional midterm elections. Following the election results, Trump Media shares reached an all-time low, while the Trump-linked TRUMP memecoin lost more than 10% of its value in 24 hours.
The prospect of increased congressional scrutiny of the president's family's cryptocurrency projects adds further uncertainty. Democrats are discussing new legislative restrictions, while the House Oversight Committee plans to examine cryptocurrency transactions linked to Trump.
Earlier, we reported that Congress could resume investigations into Donald Trump's activities after the U.S. midterm elections. Democratic gains have created conditions for closer legislative scrutiny of his business interests.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
Subscribe to TU news
Did you like the article?
Top News
Top 5 companies for you
United States
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
Live News
