Sequans Sells Remaining 314 BTC, Exits Bitcoin Treasury Strategy
Sequans Communications has sold its remaining 314 Bitcoin holdings, marking the company's complete exit from a Bitcoin treasury strategy. This move comes after the redemption of its convertible debt in May and will enable Sequans to refocus on its core cellular internet-of-things (IoT) and software-defined radio businesses.
According to CEO Georges Karam, the company used the proceeds from selling its Bitcoin holdings to eliminate its convertible debt and strengthen its balance sheet. This leaves Sequans with no cryptocurrency holdings and no outstanding debt beyond government-financed research and development obligations.
The move is part of a larger trend of companies abandoning or scaling back their crypto treasury strategies in 2026, amidst the ongoing crypto bear market. At least nine companies have fully liquidated or abandoned their Bitcoin and crypto treasury strategies this year, alongside several others that have reduced their holdings.