Bitcoin Treasurer Sequans Transfers 970 BTC to Coinbase
- Sequans, the company that holds the first cryptocurrency, has transferred bitcoins to Coinbase Prime for the first time.
- This could be either a rebalancing or a sale of assets.
- The company's mNAV is at 0.74, and the shares are trading lower on the monthly chart.
Sequans, a corporate Bitcoin holder, transferred 970 BTC to the Coinbase Prime platform, according to data from the Arkham Intelligence platform.
Sequans Communications is a French semiconductor company that develops devices and solutions for the Internet of Things.
In July 2025, the company announced the formation of a crypto-asset treasury (DAT). At the same time, the company set a goal of accumulating over 3,000 BTC.
“This initiative reflects our confidence in Bitcoin as a long-term savings tool for our shareholders,” said the company’s CEO, Georges Karam, at the time.
The acquisitions were financed by $384 million in private equity and debt financing.
The transfer, recorded by Arkham experts on October 28, is the company's first major Bitcoin withdrawal since switching to its new strategy. Its intended purpose remains unknown.
According to Arkham Intelligence, the firm still controls 2,264 BTC, worth a total of $255.8 million at the current exchange rate at the time of writing. It's possible that the 970 BTC transfer was a routine rebalancing.
It's also worth noting that Sequans shares are trading down over 12% on the monthly chart and over 61% on the monthly chart:
SQNS stock price on the NYSE. Source: TradingView.
The company's mNAV (Market-to-Net Asset Value), according to its official website, is 0.74. If it is below one, the company's shares are trading at a discount.
We previously covered a report from K33 Research experts, according to which one in four DATs falls into this category.
Source: cryptonews.net
