Financial services provider Fold sells coins to repay debts, selling approximately $45 million worth of Bitcoin

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BlockBeats News, June 10 — U.S. publicly traded Bitcoin financial services provider Fold announced that it sold approximately $45 million worth of Bitcoin at an average price of $71k, and simultaneously completed a capital restructuring. Of the proceeds, $20 million was used to repay Bitcoin collateralized debt, with the remaining $25 million invested in business development. The company has now fully paid off all collateralized debt, and its liquidity and cash flow situation have improved.

Fold states that it still holds a substantial reserve of Bitcoin and will flexibly adjust its asset allocation based on revenue performance to support the company's ongoing growth.

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