Trump Media Selling Bitcoin?
A wallet linked to Trump Media transferred 4,259 $BTC , worth roughly $434 million, to Crypto(.)com (@cryptocom), per Arkham data.
According to Arkham, there were two separate transactions in this process. These transactions were made through addresses referred to as convertible note collateral.
Worth noting, Trump Media faces a major repayment deadline later this month. A November 30 provision lets convertible note holders demand cash repayment.
In case all of them decide to exercise this right, the company might have to pay about $1 billion. Selling digital assets might become necessary.
The recent transaction, however, doesn't mean any Bitcoin sale.
Source: Arkham Intelligence
A wallet linked to Trump Media transferred 4,259 $BTC , worth roughly $434 million, to Crypto(.)com (@cryptocom), per Arkham data.
According to Arkham, there were two separate transactions in this process. These transactions were made through addresses referred to as convertible note collateral.
Worth noting, Trump Media faces a major repayment deadline later this month. A November 30 provision lets convertible note holders demand cash repayment.
In case all of them decide to exercise this right, the company might have to pay about $1 billion. Selling digital assets might become necessary.
The recent transaction, however, doesn't mean any Bitcoin sale.
Source: Arkham Intelligence
