Trump Media Moves 4,259 Bitcoin to Crypto.com Amid Sale Speculation

6h ago•

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bearish:

Trump Media-linked wallet transferred 4,259 BTC worth over $343 million to Crypto.com.
The transfer has fueled speculation that the company may be preparing for convertible debt repayments.
A potential Bitcoin sale remains unconfirmed, with the transfer also possibly linked to custody management.

A wallet tied to Trump Media & Technology Group has moved 4,259 bitcoin worth over $343M to Crypto.com, on-chain data from Arkham showed. The move has fueled speculation that the company may be preparing to raise cash as holders of its convertible debt approach a point when they can demand repayment. However, Trump Media has not explained the move, and nothing seen so far shows a sale.

Arkham tagged the holding as backing the company’s 2028 convertible notes. The company’s transfers to the exchange this year are about 9,540 bitcoin, roughly $713.68 million.