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Trump Media Wallets Send 4,259 Bitcoin to Crypto.com
The coins match the 4,260.73 BTC pledged behind Trump Media's convertible debt, which holders can redeem for up to about $1 billion on Nov. 30.
Wallets linked to Trump Media & Technology Group sent 4,259 bitcoin, worth about $344 million, to Crypto.com at 9:17 p.m. ET Wednesday, Lookonchain data show.
The coins left in two transfers of 2,140.03 BTC and 2,119.31 BTC from addresses that Arkham Intelligence labels as collateral for the company's convertible debt due 2028, The Defiant and CoinDesk reported. Both outlets put the amount at about 30% of the bitcoin Trump Media disclosed holding as of July 31.
The size lines up with the company's own books. Its second-quarter filing shows 4,260.73 bitcoin serving as collateral for that debt as of June 30.
Why the date matters
A Nov. 2 merger filing with the SEC says holders of that debt can require Trump Media to buy it back for cash on Nov. 30. If all of them do, the bill could reach about $1.0 billion. The filing says the company may refinance with a new credit facility, raise other debt or equity, or sell its bitcoin or other digital assets to fund repurchases.
Here's how the debt works. Trump Media sold $1.0 billion of zero-interest convertible notes in May 2025 at a 4% discount, raising $960 million, per the filing. Holders can convert them into stock or, on Nov. 30, ask for full face value in cash. The pledged bitcoin backs that promise, and the quarterly filing says the company can't withdraw it unless it meets the terms of the indenture (the bond contract).
What the data can't show
A transfer to an exchange is not a sale. Coins on an exchange can sit in custody, back a loan or wait for a later trade, and blockchain data show only where they went. We found no public statement from Trump Media on the transfer as of 12:15 a.m. ET Thursday.
Bitcoin traded at $80,513 at 11:54 p.m. ET Wednesday, up 4.3% over 24 hours, per CoinGecko.
In our opinion: Moving almost the whole collateral pile less than four weeks before a $1 billion put date gets attention, but a transfer is not a sale. If many holders ask for cash, the bitcoin stack is a big part of what the company could tap. Watch for an 8-K on refinancing or repurchases before Nov. 30, and for any further moves out of those Crypto.com addresses.
Sources: Lookonchain · The Defiant · CoinDesk · Arkham Intelligence · Trump Media Q2 2026 Form 10-Q (SEC) · Trump Media Form S-4/A, Nov. 2, 2026 (SEC) · CoinGecko
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