Seapan and other Bitcoin financing companies saw their shares plummeted in July this year. What does this signal mean?

Swan-promoted span and several other Bitcoin finance companies went on a rough period in July. After peaking on July 14, 2025, Sequans stock fell approximately 75%. Some finance companies even saw a tougher drop. What does this signal mean?

Span Bitcoin Pivot

Sequans Communications is a Paris-based semiconductor manufacturer that was encrypted a year after the stock price plunged from about $7 to $1 in 2024. Changes in the regulatory environment explain the timing of Bitcoin Pivot. Swan CioBen Werkman said in a July 9 interview with CNBC.

The company raised $384 million, overtaking the micro strategy and spent $250 million in 2020 to buy its first Bitcoin capital (although Bitcoin is pretty cheap at the time).

Speaking of Span's Bitcoin Pivot, Welkman said that while some may think the market is saturated, they may think that the real opportunity is still there for investors. Here's how he outlined the appeal of a fresh Bitcoin finance company:

“…One of the metrics that came up around these finance companies is called Bitcoin yields… (it's) the percentage of companies accumulating bitcoin per bitcoin.

read more: The semiconductor giant's failure will throw away bitcoin cash in a $384 million Treasury overhaul

SQNS Price Volatility

After the inquiry recruitment was completed on July 8th, SQNS stock saw short-lived spikes, falling from $1.43 to $5.39 by July 25th, plunging to $1.3 by the end of the month. Such a downfall coincides with a dip in stocks in other semiconductor companies at the end of July. More than that, on the day SQNS prices began to fall, Galaxy Digital moved hundreds of thousands of BTC into several crypto exchanges, causing a short-term decline in the crypto market.

The period when Seapan was buying Bitcoin coin coincided with the BTC price spike. On July 14th, BTC hit an all-time high of $123,091. However, according to Swan's Cory Crippsten, the average BTC price that Span bought BTC didn't exceed $119,000 at the time. Bitcoin accumulators of companies that include strategies should generally not try to reserve time in the market.

Recently, Sequans reported a net loss of $9.1 million for the second quarter of 2025. This is a 15% decrease since the second quarter of 2024. Operating losses have also decreased. Over the year, the total span margin fell from 84% to 64%. Other metrics show that product revenues have increased by 59% and product revenues have increased by 59% while license and service revenues have decreased.

Nevertheless, the company will break even in 2026 and continue to focus on Bitcoin accumulation. It is not clear what the future of SNQ will look like, but the stock's July performance shows investors are paying attention to Bitcoin finance companies these days.

Other finance companies

It was not the only financing company that had a decline in stocks this July. However, only a few lost more than 50% of the stock price in July.

Leading by David Bailey, Nakamoto is another celebrity in the industry. That Equity Naka was another Treasury Ministry that hit in July, sliding from $13.5 to under $8 over the month. The price of Jack Muller's 21 Capital Stock went from $41 at its peak on July 14th to $25.5 on July 29th.

Two UK Bitcoin finance companies have dropped sharply. Shares in Smart Web Company went from $6.1 on July 9th to $2.51 on July 29th. Coinsillium stocks fell from 0.41on on July 11 to $0.09 on July 25th.

Some treasury companies saw a soft decline this July, but the overall bleeding of such companies indicates a lack of investor confidence in such businesses, making it too reliant on Bitcoin's stability. Bitcoin was a great hit of all time, but these companies saw a tough sale. If similar trends continue in the future, the trends of finance companies could at best share the fate of the NFT market.

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