Trump Media & Technology Group transferred 4,259 bitcoins worth about $342 million to Crypto.com overnight on November 5. The coins had been pledged as collateral for the group’s convertible bonds, leaving less than 2 BTC in the related addresses. The move came as DJT fell to a record low of $4.49, losing nearly a quarter of its value in a day, while the TRUMP token dropped 20%. The transfer may relate to collateral management or refinancing, but it does not rule out a bitcoin sale before the roughly $1 billion in convertible debt becomes due on November 30.
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