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Pantera Capital urges Satsuma to liquidate Bitcoin and return shareholder capital
ChainCatcher reports that, according to Bloomberg, cryptocurrency venture capital fund Pantera Capital Management is urging 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.