BTCS Prepares for Accelerated Growth with Appointment of Experienced Crypto Developer as CTO

Rhea-AI Summary

BTCS announced the appointment of Manish Paranjape as Chief Technology Officer on February 22, 2022. With over 25 years in technology, Paranjape has been a consultant for BTCS since early 2021, previously serving as VP of Technology at Corra and CTO of REGARD. His experience is expected to enhance the development of BTCS’s proprietary digital asset analytics platform, which is nearing commercial release. CEO Charles Allen expressed confidence in Paranjape's ability to drive shareholder value as the company navigates opportunities within blockchain technology.

Positive

• Appointment of Manish Paranjape as CTO may enhance strategic direction.
• Paranjape's extensive experience in technology is advantageous for product development.
• BTCS is progressing toward the commercial release of its analytics platform.

Negative

• No notable negative aspects identified.

Silver Spring, MD, Feb. 22, 2022 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company, today announced the appointment of Manish Paranjape as Chief Technology Officer.

Paranjape, who has been working as a consultant for BTCS since the first quarter of 2021, brings more than 25 years in the technology sector to his CTO role at BTCS. Previously, Paranjape was VP of Technology and Research at Corra, a leading digital commerce agency. Prior to joining Corra, Paranjape was CTO of REGARD, where he was integral to the development of GoGoin, a global digital currency payment gateway for e-commerce merchants.

“We are thrilled to bring Manish on full-time as our new CTO,” stated Charles Allen, Chief Executive Officer of BTCS. “Manish has been a tremendous asset as a consultant on the development of our proprietary digital asset analytics platform. His demonstrated success across the technology landscape will be invaluable as we move towards the commercial release of our analytics platform and continue the ongoing of evolution of BTCS.”

“BTCS has an impressive history of pioneering firsts in the blockchain industry,” added Paranjape. “I am excited to play an important role at BTCS as the Company seeks to further grow shareholder value while capitalizing on the immense opportunities available in blockchain technologies.”

About BTCS:
BTCS is an early mover in the blockchain and digital currency ecosystem, and the first “Pure Play” U.S. publicly traded company focused on blockchain infrastructure and technology. Through its blockchain infrastructure operations, the Company secures disruptive next-generation blockchains and operates validator nodes on various proof of stake-based blockchain networks, earning rewards of additional digital assets by actively verifying and validating blockchain transactions on the networks. The Company is developing a proprietary Staking-as-a-Service platform to allow users to stake and delegate supported cryptocurrencies through a non-custodial platform, which it plans to integrate with its Data Analytics Dashboard, now in beta release. BTCS’ proprietary digital asset platform currently supports six exchanges and over 800 digital assets, and the Company plans to further broaden its suite of performance-tracking tools, add additional centralized and decentralized exchanges, as well as wallets, and stake pool monitoring. For more information visit: www.btcs.com.

Cautionary Note Regarding Forward-Looking Statements.
Certain statements in this press release, constitute “forward-looking statements” within the meaning of the federal securities laws including statements regarding growing shareholder value while capitalizing on the immense opportunities available in blockchain technologies. 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 rewards and costs associated with staking or validating transactions on blockchains, continued drop in crypto prices, significant decrease in value of our digital assets and rewards while locked up, loss or theft of the private withdrawal keys resulting in the complete loss of digital assets and reward, 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, 2020. 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.

Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
BTCS@redchip.com

Public Relations:
Mercy Chikowore
m.chikowore@btcs.com

FAQ

What is the significance of Manish Paranjape's appointment as CTO of BTCS?

Manish Paranjape's appointment as CTO is significant as he brings over 25 years of technology experience, which can improve BTCS's strategic direction and development of its analytics platform.

When was Manish Paranjape appointed as CTO of BTCS?

Manish Paranjape was appointed Chief Technology Officer of BTCS on February 22, 2022.

How will the new CTO impact BTCS's shareholder value?

The new CTO is expected to leverage his experience to enhance product development and alignment with market opportunities, potentially increasing shareholder value.

What previous roles did Manish Paranjape hold before joining BTCS?

Before joining BTCS, Paranjape was VP of Technology at Corra and CTO at REGARD, where he developed a global digital currency payment gateway.