According to ME News, on June 10 (UTC+8), Nasdaq-listed Bitcoin financial services company Fold announced the sale of approximately $45 million worth of Bitcoin at an average price of $71,000, alongside completing a capital restructuring. Of the proceeds, $20 million was used to repay Bitcoin-backed debt, while the remaining $25 million was allocated to business development. The company has now settled all secured debt, improving its liquidity and cash flow position. Fold stated that it still holds a substantial Bitcoin reserve and will flexibly adjust its asset allocation based on earnings to support sustained corporate growth. (Source: ODAILY)
Fold Sells $45 Million in Bitcoin to Repay Debt and Fund Growth
KuCoinFlashShare
Summary
Bitcoin news broke on June 10 (UTC+8) as Fold, a Nasdaq-listed Bitcoin financial services provider, disclosed it sold approximately $45 million worth of Bitcoin at an average price of $71,000. The proceeds repaid $20 million in Bitcoin-secured debt and funded $25 million in business development. The company now has no secured debt, enhancing its liquidity and cash flow. Fold still maintains a substantial Bitcoin reserve and will adjust its asset allocation based on earnings. Bitcoin analysis suggests this move supports long-term growth.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.