French fabless semiconductor firm Sequans Communications — a chip designer that outsources its fabrication to third-party foundries — has sold its final 314 Bitcoin (BTC), taking its corporate digital-asset holdings to zero and formally winding down the strategic Bitcoin reserve it unveiled in June 2025, a treasury policy of holding BTC directly on the corporate balance sheet.

According to the company's official announcement, the sale completes a balance-sheet overhaul that began in May 2026, when the NYSE-listed firm (ticker: SQNS) redeemed its convertible bonds — debt instruments that holders can convert into equity. Sequans said the only liabilities remaining on its books are obligations tied to government-funded research and development projects; apart from those, the company carries no outstanding corporate debt.

Chief Executive Georges Karam described the completion of the Bitcoin treasury policy as an "important milestone," arguing that the disciplined, opportunistic liquidation of the remaining coins — 314 BTC as of June 30, 2026 — left the firm with what he called an "exceptionally solid financial foundation." Management added that the simplified capital structure should give investors a clearer view of the company's finances while preserving cash flexibility.

With the exit complete, Sequans now positions itself solely as a supplier of cellular IoT and software-defined radio (SDR) chips, closing out a reserve playbook that dozens of listed companies embraced during the last market cycle.

Corporate Bitcoin Reserves Unwind

Sequans is far from alone in reversing course. Energy-storage firm KULR Technology Group disclosed to the SEC that it sold roughly 764 BTC — its entire reserve position — between August 20 and September 11, using the proceeds to clear short-term liabilities and redirect capital into its storage business. Bitcoin mining company Riot Platforms sold 9,665 BTC across the first half of 2026 to help fund its pivot toward artificial intelligence infrastructure, while Prenetics Global and Genius Group have taken similar steps, thinning the ranks of corporate whale holders that accumulated coins at scale in prior years. For readers tracking corporate exposure, further sale disclosures from listed holders — most visible through SEC filings — are the data points to watch as this unwind continues.

The retreat marks a sharp reversal in tone. When Sequans launched its treasury strategy in June 2025, management billed Bitcoin as a premium-grade asset and an attractive long-term investment — the conviction that defined the 2024–2025 corporate adoption wave, when balance-sheet buying looked like a smarter bet than a passive HODL stance for many smaller-cap firms. By late May 2026, having redeemed its convertible debt, the company had already signaled it would not continue the digital-asset policy. Sustained volatility through 2026 has since turned accumulation stories into liquidation stories.

Chip Business Gains Momentum

Sequans paired its treasury exit with an upbeat assessment of its underlying business. Product revenue rose more than 80% year over year in the second quarter of 2026, according to the company's disclosure, and its six-month product order backlog stood at more than three times the prior-year level by quarter-end — a jump management attributes to higher design-win conversion rates, where a design win means a customer has selected the firm's chip for an upcoming product.

The company said development of its 5G eRedCap platform, which supports the industry transition from 4G to 5G cellular connectivity, remains on schedule. It also reported expanding commercial traction for its newly launched RF transceiver, with design wins accumulating across defense, drone, and space applications.

Karam said that with the balance-sheet transition complete, the company is focused on maximizing momentum across its semiconductor portfolio, adding that the strengthened financial base positions Sequans to execute its strategy, scale operations, and deliver sustainable long-term shareholder value.

The episode underscores how quickly corporate Bitcoin adoption narratives can reverse when capital priorities shift — and the underlying business is what remains once a treasury story is switched off.

Bitcoin Price: $87K Resistance in Focus

Bitcoin traded near $83,903 at press time, down 0.90% over 24 hours. COINOTAG's proprietary 42-indicator composite support/resistance (S/R) scoring engine rates the $84,076 resistance at 73/100 (Fibo 0.114, pivot point), with the stronger $87,330 ceiling at 81/100 (Bollinger Band Upper, Donchian Upper). A flipped support at $83,104 — a former resistance level now acting as support — scores 52/100 (MACD cross), while $77,002 is far stronger at 71/100 (SMA 50, Keltner Lower).

Perpetual funding — the periodic fee exchanged between perpetual-futures traders that anchors contract prices to spot — prints slightly negative at -0.0031%, a reading under which shorts pay longs. It sits against $16.02 billion in open interest, the notional value of all outstanding derivative positions, and a 1.41 long/short ratio indicating more long than short exposure, while the Fear & Greed Index reads 74 (Greed). A daily close above $84,076 keeps the uptrend intact toward $87,330; losing $83,104 would instead target $80,160.