On July 1, K Wave Media sold its entire Bitcoin treasury to repay a debt of $6 million. On July 3, the U.S. public firm liquidated its entire portfolio of 88 Bitcoin units. The liquidation aims to provide necessary liquidity to repay the outstanding debt. On July 5, K Wave Media confirmed the liquidation of all its Bitcoin holdings to settle the $6 million debt.
The company exited its corporate Bitcoin strategy by selling all holdings to settle outstanding liabilities, highlighting liquidity pressures on small-cap firms.
Read the full storyU.S. public firm K Wave Media sold its entire treasury of 88 BTC to generate liquidity and settle an outstanding debt obligation of $6 million.
The media firm sold its total BTC holdings to meet immediate liquidity needs, highlighting the risks of using crypto for corporate debt management.