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Wu says he has learned that the French publicly listed company Sequans Communications (SQNS) has sold 1,025 BTC and currently holds 1,114 BTC. After verification through official documents, Sequans previously disclosed that it held 2,139 BTC as of the end of 2025. As of April 30, the company held 1,114 BTC, with a market value of approximately $84.9 million, of which 817 BTC are pledged as collateral for the remaining $35.9 million worth of convertible bonds. The remaining debt is scheduled to be redeemed before June 1, at which point the remaining BTC will no longer be subject to restrictions and can be used for sale.