Trump Media pledged 11,385 of its approximately 15,649 bitcoins into an options program, representing 73%.
This figure comes from its third-quarter 10-Q. The program’s counterparties can reuse these bitcoins. Almost all of the remainder was used to secure $1 billion in notes, whose holders can demand repurchase on November 30.
· Pledged and collateralized bitcoins are tied up, leaving fewer available for free use.
When the notes come due on November 30, will you look first at the size of the note repurchases or the registration status of these bitcoins?
$BTC
This figure comes from its third-quarter 10-Q. The program’s counterparties can reuse these bitcoins. Almost all of the remainder was used to secure $1 billion in notes, whose holders can demand repurchase on November 30.
· Pledged and collateralized bitcoins are tied up, leaving fewer available for free use.
When the notes come due on November 30, will you look first at the size of the note repurchases or the registration status of these bitcoins?
$BTC
