Bitcoin Magazine

Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting

Satsuma shareholders have voted to unwind the company’s bitcoin treasury and pull its shares off the London Stock Exchange.

At a general meeting on July 20, holders passed two special resolutions: one to return substantially all of Satsuma’s capital to shareholders, the other to cancel the company’s listing on the FCA’s Official List. 

The capital return resolution carried 90.63% support, with 7,869,182,042 votes in favor against 813,703,719 opposed. The delisting resolution passed with near-identical margins, 90.59% in favor.

The board will now close out Satsuma’s trading operations and sell the company’s remaining bitcoin, roughly 668 BTC. 

The stock had traded as Satsuma Technology PLC (LSE: SATS), one of the UK’s bitcoin treasury vehicles, second in size only to The Smarter Web Company.

A timetable set out in the June 24 shareholder circular governs the wind-down. The record time for entitlement to B Shares falls at 6 p.m. on August 3, the deadline for warrant holders to exercise their warrants if they want the resulting ordinary shares included in the capital return. 

Once the total number of qualifying shares is fixed, Satsuma will petition the UK High Court to confirm the return of capital. A directions hearing is set for August 13, with a confirmation hearing to follow on September 8. 

Under that schedule, the listing cancellation lands on September 14, and payments and CREST transfers go out by September 28.

Satsuma’s bitcoin struggles

The vote caps a run of trouble for a company that built its identity around holding bitcoin on a public balance sheet. Satsuma bought most of its coins at an average price above $113,000. 

With bitcoin trading below $68,000 in July, the treasury sat on steep unrealized losses, and Satsuma’s shares fell more than 99% from their June 2025 peak near £14 to around 21 pence, a valuation below the worth of its own bitcoin holdings.

The company had already begun trimming its position under liquidity pressure. In December 2025, the company sold 579 of its 1,199 bitcoin for roughly £40 million, proceeds it used to retire £78 million in convertible loan notes that matured on December 31. That sale left the company with 620 BTC and about £90 million in cash. 

By April, Pantera Capital, which held a 6% to 7% stake, was publicly pushing Satsuma’s board to sell its remaining bitcoin and hand the cash back to shareholders rather than persist as a listed treasury company. 

That pressure, combined with a shareholder requisition from holders representing more than 20% of Satsuma’s issued capital, forced Wednesday’s vote.

The board itself split on the outcome. Four of six directors recommended shareholders reject the wind-down, arguing it would dismantle a listed bitcoin vehicle and close off the company’s existing strategy. Two directors backed the proposal, citing shareholder demand and the execution risk of continuing as a going concern.

Satsuma’s exit adds to a wave of distress among smaller bitcoin treasury companies as coin prices sit well below the levels at which many of them accumulated their holdings, leaving boards to choose between raising fresh capital or returning what remains to shareholders.

This post Satsuma Shareholders Approve Bitcoin Liquidation, London Delisting first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Listings tell you something about demand, even when they do not tell you everything about quality. Binance’s addition of IO token shows that decentralized compute remains a narrative exchanges still want exposure to.

That fits neatly with how AI-linked crypto plays have managed to stay relevant even as market attention rotates.

For more details, visit the official Binance platform.

TL;DR

• Binance listed IO token on spot markets.
• The move gives more visibility to io.net and the decentralized compute theme.
• AI and compute-linked tokens remain one of the market’s strongest narrative clusters.

Why IO Fits The Current Market Mood

Projects tied to distributed compute, AI infrastructure, and DePIN-style stories are still drawing interest because they offer a narrative bridge between crypto infrastructure and a much bigger external tech theme.

An exchange listing does not validate the whole thesis, but it does make the asset easier for the market to express a view on.

The Exchange Signal Matters

When a venue like Binance adds a token, it increases visibility, liquidity potential, and speculative access all at once. That is often enough to shift market attention even before fundamentals catch up.

For now, the listing reinforces a simple point: AI infrastructure remains a lane the market is still willing to chase.

This report is based on information from Binance.

This article was written by the News Desk and edited by Samuel Rae.

Source: Binance

Coinbase listings still matter, even in a market that likes to pretend every token is already globally accessible. The exchange’s decision to add Wormhole puts another major infrastructure name in front of a much broader pool of traders.

That matters because Wormhole is not just another speculative ticker. It sits inside one of crypto’s most important, and most debated, categories: cross-chain connectivity.

For more details, visit the official Coinbase platform.

TL;DR

• Coinbase is adding support for Wormhole’s W token on spot markets.
• The listing gives a higher-profile venue to a token tied to cross-chain infrastructure.
• It also keeps Solana ecosystem names in front of mainstream exchange users.

Why A Wormhole Listing Is Interesting

Bridge and messaging infrastructure often do not get the same retail attention as consumer-facing protocols, but they matter enormously to how liquidity and applications move between ecosystems.

Coinbase’s listing helps push that infrastructure layer a bit closer to the centre of the market conversation, especially with the token being added in its Solana SPL form.

A Broader Solana Ecosystem Signal

The listing also reinforces how visible Solana-adjacent names have become. That does not automatically mean all of them deserve the same valuation, but it does show where exchange demand for fresh listings is leaning.

For traders, the immediate takeaway is straightforward: Coinbase is still willing to bring infrastructure plays onto the spot menu when the market interest is there.

This article is based on information from Coinbase.

This article was written by the News Desk and edited by Samuel Rae.

This report is based on information from Coinbase. at Coinbase