Sequans completes its transformation into Bitcoin reserve clearing and focuses on IoT semiconductor business

According to TheBlock, SequansCommunications, a company listed in Paris, France, announced that it has completed the redemption of all convertible debt related to Bitcoin reserves and sold approximately 80% of its Bitcoin positions to repay debt. Currently, there are only 658 BTC left and restrictions have been completely lifted. Company CEO Georges Karam said that this move marks a strengthening of the company's balance sheet and a simplified capital structure. In the future, it will focus on the large-scale expansion of 4G/5G IoT semiconductors, RF transceivers and defense wireless application businesses.