Pantera Capital urges Satsuma to liquidate Bitcoin and return capital to shareholders

According to Bloomberg, the cryptocurrency venture capital fund Pantera Capital Management is urging the London-listed company Satsuma Technology Plc to sell its remaining approximately $50 million in 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 proposals. Additionally, sources revealed that the shareholders are also demanding a change in management; currently, Satsuma's CEO Henry Elder and CFO Andrew Smith have resigned. Earlier this month, the company announced it would cut costs and disclosed the purchase of Bitcoin worth £1.4 million.