May 28
Sequans Ditches Bitcoin Treasury: Sells BTC Holdings to Redeem Debt and Refocus on IoT Chips
➤ Sequans Communications has sold its Bitcoin holdings to redeem convertible debt, marking an end to its corporate Bitcoin treasury strategy. ➤ The company cited challenges with Bitcoin's volatility and its own declining revenue and operational losses in the semiconductor business as reasons for the pivot. ➤ This move reflects a broader trend of smaller companies exiting Bitcoin treasury strategies due to market volatility and the need to refocus on core operations.