Trump Media & Technology Group has pledged about 73% of its bitcoin to an options program in which the counterparty can reuse the coins, the company disclosed in its third-quarter 10-Q filed Monday, three weeks before holders of its $1 billion in convertible notes can demand cash.

The Truth Social parent held approximately 15,649 BTC on Sept. 30, Chief Financial Officer Phillip Juhan said on Monday’s earnings call, along with 7 million shares of BlackRock’s IBIT. Of those coins, 11,385.20 were pledged to what the company calls its bitcoin yield management program.

The filing says that program requires Trump Media to post bitcoin as collateral “that the counterparty can…

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