ME News reports that on September 25 (UTC+8), French semiconductor company Sequans Communications announced the sale of its remaining 314 bitcoins, fully exiting its former reserve strategy that once held over 3,200 bitcoins. The company stated that this move followed the redemption of convertible debt in May and aims to refocus on its cellular IoT and software-defined radio businesses. Sequans said the proceeds from the bitcoin sale were used to repay convertible debt and improve its balance sheet. The company now holds no cryptocurrencies and has no outstanding debt other than obligations related to government-funded research and development. (Source: ODAILY)
French semiconductor firm Sequans sells its remaining 314 BTC, exits Bitcoin reserve strategy
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Bitcoin breaking news: On September 25 (UTC+8), French semiconductor firm Sequans Communications announced it has sold its remaining 314 Bitcoin, fully exiting its Bitcoin reserve strategy. The company previously held over 3,200 Bitcoin. Sequans stated the sale followed the conversion of convertible debt in May and is intended to refocus on its cellular IoT and software-defined radio businesses. The proceeds from the Bitcoin sale were used to repay the debt and strengthen the balance sheet. The company now holds no cryptocurrency and has no outstanding debt except for government-funded R&D obligations.
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