US-listed company Sequans purchases 370 BTC for the first time

On July 10, according to Newsfilecorp, Sequans Communications (NYSE: SQNS) announced the launch of a Bitcoin reserve strategy, with an initial purchase of 370 Bitcoin. The IoT semiconductor supplier plans to accumulate more than 3,000 $BTC in the coming weeks. The funds for this purchase come from the proceeds of the company's common stock and convertible bond issuance completed on July 7.
Sequans has selected Coinbase Prime as its digital asset custody platform, providing secure and compliant infrastructure support. Sequans CEO Georges Karam said, "This move reflects our confidence in Bitcoin as a long-term store of value." Previously, Sequans announced a $384 million financing to launch a Bitcoin reserve plan. [Deep Tide TechFlow]