Remember how $GME raised billions in convertible bonds, then only spent a tiny fraction of the funds raised and none of their treasury cash? $SQNS did the opposite. $358.5M net proceeds from initial fundraise fully deployed into BTC, and now an additional $10M of treasury cash. x.com/Sequans/status…

Important recent history for anyone not aware of the real cause of the 2022 price crash. It wasn’t SBF.

Rough MNAV calcs: $CEP/XXI: $274M mktcap for 2.7% = $10.15B post-merge 42k BTC at $117.7k MNAV = 2.05x $NAKA $66.5M mktcap for 1.2% = $5.54B post-merge $750M of BTC coming MNAV = 7.39x

Slick purchase history view from the upcoming @sequance LBE analytics dashboard 👀 Great stuff from @BenWerkman @skwp and the team!

A Satoshi-era whale just sold 80,000 BTC—worth over $9 billion. These coins sat untouched since 2011. Now they’re gone. And Bitcoin barely moved. This is more than a sale. It’s the clearest signal of what’s coming next. 🧵👇

3000 BTC has been breached by the French! Allez @sequans!!

Gonna be a big week of announcements from @sequans and @swan. Looking forward to sharing our plans with all of you now that we’re officially signed on 😎

Nope, I had it right the first time. Page 42 sums up the disputed BTC at 57,429, or $6.85 billion at $119,350 per BTC “(d) Require Defendants to relinquish to Plaintiffs the 15,658.21 Bitcoin, 2,228.01 Bitcoin, and 39,542.42 Bitcoin (subject to § 550(d) and without duplication) preferentially transferred by Plaintiffs to Defendants during the § 547(b) Period (plus any additional avoidable transfers that Plaintiffs learn, through discovery or otherwise, were made to Defendants during the § 547(b) Period), or, in the alternative, award Plaintiffs the present value of all Bitcoin (subject to § 550(d) and without duplication) preferentially transferred to Defendants during the § 547(b) Period;7”

Looks like it’s 39,542 Celsius user bitcoins the estate is trying to recover from Tether, not 57k (saw that higher number a while back). It’s in the Second Amended Complaint just filed by Celsius Estate on Friday:

Has anyone confirmed whether the 25,000 BTC coming from BSTRC in the Caymans that’s being contributed to BSTR is coming from Tether? I’d assume BSTRC is a Cayman SPV that Tether owns and/or controls. Blockstream doesn’t have that kind of coin to my knowledge.