Wallets linked to Trump Media & Technology Group moved 4,259 bitcoin to Crypto.com early on Thursday, 5 November. At Thursday night's price of 75,869 dollars that is about 323 million dollars. The coins came from addresses labelled "2028 Convertible Notes Collateral", and a filing from 2 November shows why the timing matters: holders of those notes can demand up to 1.0 billion dollars in cash on 30 November, and Trump Media names selling bitcoin as one way to raise it.
The transfer landed in the middle of a broad sell-off. Bitcoin fell to its lowest level in seven weeks, the Nasdaq lost 5.4 percent, and Trump Media's own shares (ticker DJT) dropped 10.5 percent to 4.02 dollars. For the full picture of why the market is falling, read our Bitcoin crash analysis with price levels.
What did Trump Media do with its bitcoin?
Trump Media sent 4,259 BTC to an address attributed to Crypto.com in two transfers at 02:17 UTC, according to on-chain data from Arkham reported by Read Entire Article
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