Financial services provider Fold sells coins to pay off debt, sells approximately $45 million worth of Bitcoin

BlockBeats News, June 10th, U.S. stock-listed Bitcoin financial services provider Fold announced that it has sold approximately $45 million worth of Bitcoin at an average price of $71,000 and simultaneously completed a capital restructuring. Of the proceeds from this sale, $20 million was used to repay Bitcoin-backed debt, and the remaining $25 million was allocated to business development. The company has now cleared all secured debts, improving its liquidity and cash flow position.

Fold stated that it still holds a significant amount of Bitcoin reserves and will flexibly adjust its asset allocation based on earnings to support continued business growth.