BTCS Inc. Granted DTC Eligibility for Series V Preferred Stock
Silver Spring, MD, May 11, 2023 (GLOBE NEWSWIRE) -- BTCS Inc. (NASDAQ:BTCS) ("BTCS" or the "Company"), a blockchain technology-focused company, is pleased to announce that the Depository Trust Company ("DTC") granted eligibility to the Company's Series V Preferred Stock. DTC eligibility allows the Series V shares to be eligible for depository and book-entry services at DTC.
"This is a long-awaited moment for BTCS and our shareholders, as DTC's grant of eligibility removes the final hurdle to issuing our long-awaited Series V dividend," said BTCS CEO Charles Allen.
Each share of Series V is intended to be listed on a securities exchange platform that utilizes blockchain technology to facilitate instantaneous trade settlement. We have applied to have our shares listed on Upstream exchange and are currently working through the application process. Upstream utilizes the Ethereum blockchain, which BTCS has been generating revenue securing since 2021.
Distribution: Entitled common share stockholder will receive Series V shares on a 1:1 basis
Ex-Date: May 11, 2023
Record Date: May 12, 2023
Payment Date: June 2, 2023
Transfer Agent: Equity Stock Transfer
The Company has also launched a dedicated website page to provide detailed information on the Series V dividend, including a timeline and answers to frequently asked questions (FAQs) at: www.btcs.com/seriesv.
About BTCS:
BTCS Inc. is a Nasdaq listed company operating in the blockchain technology space since 2014 and is one of the first U.S. publicly traded companies with a primary focus on blockchain infrastructure and staking. BTCS secures and operates validator nodes on disruptive next-generation blockchain networks that power Web 3, earning native token rewards by staking our proof-of-stake crypto assets. "StakeSeeker" is BTCS' newly introduced proprietary Cryptocurrency Dashboard and Staking-as-a-Service platform, developed to empower users to better understand and grow their crypto holdings with innovative portfolio analytics and a non-custodial process to earn staking rewards on crypto asset holdings. Users can easily link and monitor their cryptocurrency portfolios across exchanges, wallets, validator nodes, and other sources; and have access to a suite of data analytic tools such as performance and reward tracking. StakeSeeker's Staking Hub allows users to earn rewards by directly participating in network consensus mechanisms by staking and delegating their cryptocurrencies to company-operated validator nodes for a growing number of supported blockchains. As a non-custodial validator operator, BTCS receives a percentage of token holders staking rewards generated as a validator node fee, creating the potential opportunity for a highly scalable business with limited additional costs. For more information visit: www.btcs.com.
Forward-Looking Statements:
Certain statements in this press release, constitute "forward-looking statements" within the meaning of the federal securities laws including statements regarding the potential distribution of Series V including its timing, and terms, listing on a securities exchange platform that utilizes blockchain technology as well as the perceived and anticipated benefits to shareholders and the financial markets in general of the Series V and blockchain technology. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation, the possibility that the Company does not proceed with the Series V distribution due to administrative, regulatory or other challenges, the Company's broad discretion with respect to the Series V, possible trading volatility, pricing discrepancies or other negative characteristics of the exchange selected for trading, including unanticipated consequences resulting from being on the selected exchange, dilution, future regulatory issues, market or economic downturns or other adverse developments with respect to our business and the digital assets on which it depends, as well as risks set forth in the Company's filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2022. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements, whether as a result of new information, future events or otherwise, except as required by law.
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