BlockBeats News, April 16th, according to CoinDesk's report, US stock medical technology company Semler Scientific has reached a preliminary settlement agreement with the US Department of Justice (DOJ), planning to pay a $29.75 million fine to settle all charges related to potential violations of the federal False Claims Act in the marketing of its flagship product, QuantaFlo. Last month, Semler Scientific disclosed that it had received a civil investigative demand from the DOJ as early as 2017. According to filings with the US Securities and Exchange Commission (SEC), the company subsequently cooperated in multiple years of follow-up investigations and initiated preliminary settlement negotiations with the DOJ in February of this year.

Semler Scientific's Bitcoin reserves may become a key financing tool for paying the fine. In a filing on Tuesday on Form 8-K, Semler Scientific has entered into an agreement with the cryptocurrency exchange Coinbase, allowing it to borrow cash and digital assets using Bitcoin reserves as collateral. The filing stated that if the settlement agreement is approved, the company will "borrow under the Coinbase prime loan agreement and use the funds (together with existing cash) to pay the DOJ settlement amount." As of the time of writing, Semler Scientific holds 3,192 Bitcoins worth approximately $267 million. If this investigation settlement is reached, it may be the first public disclosure by a listed company of using Bitcoin-backed loans to pay a government settlement.