Sequans Sells $18 Million Worth of Bitcoin to Reduce Debt Burden

Sequans, a technology company facing significant debt pressure, has taken an unconventional step by selling 970 Bitcoin for approximately $18 million. This strategic move aims to slash their convertible debt from a substantial $189 million down to a manageable level of $94.5 million. The decision reflects the growing integration of cryptocurrency into corporate finance strategies as companies seek alternative solutions to manage debt and financial obligations.