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Pantera Capital urges Satsuma to liquidate Bitcoin and return shareholder capital
Golden Finance reports that on April 23, according to market sources, the cryptocurrency venture capital fund Pantera Capital Management is urging the London-listed company Satsuma Technology Plc to sell the remaining approximately $50 million worth of Bitcoin and return the funds to shareholders.
Satsuma has confirmed that some shareholders have requested a return of funds, and the company is evaluating related plans. According to sources familiar with the matter, the relevant shareholders also demand a change in management; currently, Satsuma’s CEO Henry Elder and CFO Andrew Smith have resigned.
Earlier this month, the company announced cost-cutting measures and disclosed the purchase of Bitcoin worth £1.4 million.