On June 10, Fold, a Bitcoin financial services provider listed on the U.S. stock market, announced the sale of approximately $45 million in Bitcoin at an average price of $71,000, simultaneously completing a capital restructuring. Of the funds generated from this liquidation, $20 million will be used to repay Bitcoin collateralized debt, while the remaining $25 million will be invested in business development. The company has now cleared all collateralized debts, improving its liquidity and cash flow situation. Fold stated that it still holds a substantial reserve of Bitcoin and will flexibly adjust its asset allocation based on revenue conditions to support sustainable business growth.
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Fold Sells Bitcoin to Repay Debts, Offloading Approximately $45 Million
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