Two publicly listed cryptocurrency accumulators have already started selling at a loss. Sequans (SQNS) began accumulating Bitcoin in July, with an average purchase cost of approximately $117,000. On November 4th, they sold 970 Bitcoins at an average price of $108,000, paying off half of their debt. Luckily, they exited early; otherwise, their debt ratio would have approached 100%, putting them at risk of bankruptcy. Another company accumulating Ethereum (ETH), FGNX, is in an even worse situation. They announced yesterday that they were selling off their accumulated Ethereum holdings of over $4,000 at a loss. This is just the beginning.