The Bitcoin Treasury Bubble Pops as Sequans Puts the “Sell” in “Self-Sabotage”

In what might be the beginning of the end, or merely a bizarre interlude of chaotic unpredictability in the crypto theater, Paris-based Sequans (SQNS) is the first bitcoin treasury darling to dump its shiny, digital gold. The company’s decision, laid bare during their third-quarter earnings report on Tuesday, revealed that 970 bitcoin were parted with to clear half of its July 2025 convertible debt, trimming the total from $189 million to a more “breathable” $94.5 million.
