Event Recap and Clarification
Arkham analyst Emmett Gallic initially claimed on X that Trump Media Tech Group disclosed in its SEC 10-K filing the sale of 2,000 BTC worth around $175 million. This sparked immediate market reactions.
Latest Update and Correction
Gallic later clarified that this wasn’t a direct sale. Instead, the firm handed over 2,000 BTC as collateral to counterparties. These entities now have full discretion over the digital assets, including potential resale.
Financial Reporting Impact
- Trump Media removed the BTC from its balance sheet due to loss of control.
- Counterparties maintain full rights to manage the collateral as they see fit.
This correction suggests a structured finance move rather than a direct crypto disposal, possibly linked to liquidity or funding strategies.