Trump Media Transfers 4,259 Bitcoin to Crypto.com Amid Severe Stock Plunge

Trump Media & Technology Group transferred 4,259 Bitcoin, valued between $342 million and $434 million, to exchange and custody partner Crypto.com. The movement closely matches the roughly 4,261 BTC pledged as collateral against $1 billion in convertible notes, leaving corporate collateral wallets with about 1.3 BTC. The on-chain transfer coincided with Trump Media shares dropping about 24% to a record low of $4.49 following U.S. midterm elections. While the company has previously cited routine custody management for similar transfers, noteholders hold rights to demand up to $1 billion in cash repayments by November 30.