Crypto攻城狮|Nov 06, 2026 00:57
Trump's companies are also facing debt.
A few hours ago, Trump Media, the parent company of Truth Social, transferred approximately 4,260 BTC to the cryptocurrency exchange Crypto.com, worth about $344 million.
This company, which runs a social media platform, also held a significant amount of Bitcoin.
Earlier this month, it disclosed to the SEC that on November 30th, noteholders could demand approximately $1 billion in cash, which might require selling Bitcoin to repay the debt.
That date is just over three weeks away.
Entering the exchange doesn't mean the coins have been sold. Even if all of them were sold, it would only be enough for a little over a third of the $1 billion.
The timing is also awkward; the Democrats just announced their investigation into Trump's cryptocurrency business, and this transaction has already occurred.
The most affected are those still holding shares: the stock price is already at an all-time low, and the company may have to sell cryptocurrency to pay off debts.
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