Sequans Sells All 314 Bitcoins, Exits Reserve Strategy

French semiconductor company Sequans Communications announced the sale of its remaining 314 bitcoins, completely exiting its reserve strategy that previously held over 3,200 bitcoins. This move follows the redemption of convertible debt in May and aims to refocus on its cellular IoT and software-defined radio businesses. Sequans stated that the proceeds from the bitcoin sale have been used to pay off convertible debt and improve its balance sheet. The company no longer holds any cryptocurrency and has no outstanding debt other than government-funded R&D obligations.

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