Cango sold 2,000 BTC in March to repay loan

Chinese car trading service platform Cango announced it sold 2,000 BTC in March, using the full proceeds to pay down a Bitcoin-backed loan and reduce its debt. The company, which previously acquired BTC miners from Bitmain, stated that as of March 31, its total outstanding Bitcoin-backed loan balance was $30.6 million. Cango currently holds 1,025.69 BTC.