Sequans Communications liquidated nearly half its Bitcoin treasury as mounting losses and debt obligations forced a strategic reversal. https://t.co/PTPf1RTtXJ ...

ANOTHER BTC TREASURY HALVES ITS STACKFrench chipmaker Sequans (@Sequans) sold 1,025 bitcoin:native in Q1, cutting its treasury from 2,139 to 1,114 coins.Revenue dropped 24.8% to $6.1 million and net loss hit $54.3 million, including $41 million in Bitcoin-related impairments and realized losses. $SQNS is down 42% over six months.Of the remaining stack, 817 bitcoin:native are pledged against $35.9 million in convertible notes due June 1. After that, all holdings become unrestricted.It's the second major sale ...