Wall Street has found its favorite Bitcoin trade, and it isn’t buying Bitcoin. The BTC treasury boom is turning bust, with the most popular bitcoin treasury companies are down 50% over the last six months, but one group in particular has profited despite the drooping sentiment. A few months removed from the euphoria of the bitcoin treasury peak, it’s becoming clear that the banks were one of the few winners in the whole saga. Case in point: bankers have likely minted anywhere from $280-560 million from ...

🇺🇸 Can a Bitcoin treasury fix the national debt? 🧐Mike Novogratz (@novogratz) calls it "smoke and mirrors.""It's almost like saying 'we're the reserve currency, but not really... we don't believe in it ourselves.'" https://t.co/pgoFFiQaEY ...

🇯🇵 UPDATE: Metaplanet’s Bitcoin treasury gains slumped in Q3 as October’s BTC drop erased most unrealized profit, leaving ¥10.6B in gains. https://t.co/9bT6QlIiIK ...

Core Insights - The Bitcoin treasury boom is experiencing a significant slowdown, with public companies adding only 14,400 Bitcoin worth approximately $1.4 billion in October, marking a 63% decline from September's total of 38,035 Bitcoin [1] - The market capitalization to Bitcoin holdings ratio (mNAV) for companies has decreased from 1.8x in May to 1.1x, indicating a loss of premium that previously made Bitcoin treasuries attractive [2][4] - The influx of companies entering the Bitcoin treasury market has led to oversaturation, with over 200 public companies now holding Bitcoin, up from just a few in 2020 [5] Company Performance - Strategy's mNAV has fallen significantly, reflecting broader issues in the sector, with prominent companies like MetaPlanet and Sequans Communications facing substantial losses on their Bitcoin investments [2][4] - Some companies are experiencing severe stock price declines, with Nakamoto Holdings' shares dropping from $35 to under $1 after a merger, highlighting the volatility in the market [6][7] - Sequans Communications had to implement complex accounting measures to avoid delisting from the New York Stock Exchange due to its stock price falling to penny stock levels [7]

Japanese Bitcoin treasury @Metaplanet_JP is buying more Bitcoin after securing a $100 million loan using its crypto as collateral, the Tokyo Stock Exchange-listed company announced. https://t.co/loamNYpngy ...

🔥 UPDATE: Future, a Swiss Bitcoin treasury startup co-founded by Adam Back, raises $34.5M to build a Bitcoin treasury/custody platform. https://t.co/auojYBWHZt ...

Bitcoin Holdings - Sequans Communications 出售 970 比特币，用于偿还 9450 万美元可转换债券 [1] - Sequans Communications 的比特币储备减少至 2264 BTC [1] - Sequans Communications 成为首家显著减少比特币持有量的上市比特币储备公司 [1]

🗞️ LATEST: Sequans Communications becomes the first pure play Bitcoin treasury firm to sell BTC holdings, unloading 970 Bitcoin.@btcjvs reports.https://t.co/l6PKh3nS3Y ...

Core Insights - Sequans Communications reported preliminary financial results for Q3 2025, showing significant declines in revenue and profitability compared to previous quarters and the same quarter last year [1][4][8]. Financial Performance - Revenue for Q3 2025 was $4.3 million, a decrease of 47.3% from Q2 2025 and a decrease of 57.5% from Q3 2024 [2][4]. - Gross profit was $1.8 million, with a gross margin of 40.9%, down from 64.4% in Q2 2025 and 82.5% in Q3 2024 [2][6]. - Operating loss was $20.4 million, compared to a loss of $8.7 million in Q2 2025 and a profit of $87.3 million in Q3 2024 [2][7]. - Net loss was $6.7 million, or ($0.48) per diluted ADS, compared to a net loss of $9.1 million in Q2 2025 and a profit of $72.6 million in Q3 2024 [2][8]. - Non-IFRS net loss was $11.0 million, or ($0.79) per diluted ADS, compared to a non-IFRS net loss of $8.1 million in Q2 2025 and a profit of $80.8 million in Q3 2024 [2][9]. Balance Sheet and Cash Flow - Cash and cash equivalents at September 30, 2025, totaled $13.4 million, down from $41.6 million at June 30, 2025 [10]. - The company held 3,234 Bitcoin valued at $365.6 million, with 1,617 Bitcoin being released from pledge to repay half of the convertible debt [11]. Strategic Initiatives - The CEO emphasized a disciplined approach to managing the balance sheet, reducing debt by leveraging Bitcoin holdings, which has improved financial flexibility and supported a buyback program [3]. - The IoT product business is strengthening, with a three-year revenue design win pipeline increasing to $300 million, and over 45% of related projects expected to enter mass production by 2026 [3].

TAMPA, Fla., Nov. 03, 2025 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a Bitcoin treasury and mining company, today announced that its Board of Directors has authorized a share repurchase program to buy up to $1.5 million of the Company’s outstanding common stock. The authorization represents approximately 15% of LM Funding’s currently outstanding shares following its recently announced private repurchase of shares and warrants on October 30, 2025. Following ...