Trump Media & Technology Group has reported a decrease in its Bitcoin holdings from 11,542 BTC to 9,542 BTC, as noted by Arkham analyst Emmett Gallic. This drop of approximately 2,000 BTC was not due to a sale; rather, the Bitcoin was pledged as collateral to a counterparty, which now has rights to rehypothecate the pledged assets. As a result, the company was required to derecognize these assets from its balance sheet, in accordance with US GAAP, which mandates derecognition when control of crypto assets is transferred.
Trump Media & Technology Group pledges 2,000 Bitcoin as collateral
