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10-29
Sequans Moves $111M Worth of Bitcoin to Coinbase in First Outbound Transfer
Sequans transferred 970 Bitcoin, worth approximately $111 million, to Coinbase, marking its first major outbound transaction since launching its Bitcoin treasury strategy. The company still holds 2,264 BTC, valued at around $255 million, despite a 27% stock decline since the initiative began. Speculation persists over whether the move indicates a partial sale or a custody reorganization. The transfer occurred as Coinbase reported strong Q3 earnings driven by institutional adoption.
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BTC
BTC-0.56%
10-29