BTCS Inc. - BTCS STOCK NEWS

BTCS (Nasdaq: BTCS) has made amendments to its Series V preferred stock to address Nasdaq's feedback. The company is moving towards distributing Series V shares on a 1:1 basis to eligible shareholders. The record date for this distribution is set for May 12, 2023, with a payment date of June 2, 2023. Each Series V share aims for listing on the Upstream exchange, leveraging blockchain technology for instantaneous trade settlements. CEO Charles Allen emphasized that this initiative will enhance investor protection by reducing risks linked to traditional settlement processes. The amended Series V will have a 20% liquidation preference and may include dividends at the board's discretion. Shareholders are encouraged to review the full terms and associated risks as outlined in the company's filings with the SEC.

BTCS Inc. (Nasdaq: BTCS) reported a 39% revenue increase to $1.7 million for fiscal year 2022, up from $1.2 million in 2021. Although gross margins fell from 78% to 75%, the net loss improved to $15.9 million ($1.25 per share) from $21.1 million ($3.09 per share) in 2021. The decrease in losses was attributed to non-cash impairment charges on crypto assets, which totaled $13.3 million compared to $3.8 million the previous year. With $2.1 million in cash and the fair value of crypto assets rising to $18.8 million by March 28, 2023, BTCS highlights its commitment to innovative projects like the recent launch of the StakeSeeker platform, enhancing non-custodial staking services.

BTCS Inc. (Nasdaq: BTCS) announced a delay in the distribution of its Series V Convertible Preferred stock due to anticipated structural changes. CEO Charles Allen emphasized the company's commitment to protecting investors and ensuring value through blockchain technology, which could optimize settlement processes. The previously set Record Date of March 27, 2023, and Payment Date of April 14, 2023, will be revised. The company is collaborating with Nasdaq to finalize necessary adjustments, with further updates to be communicated once finalized.

BTCS Inc. (Nasdaq: BTCS) has launched its Android application for the non-custodial staking platform, StakeSeeker, available on the Google Play Store. StakeSeeker aims to simplify staking by allowing users to analyze assets and track rewards effortlessly. The platform enables users to manage crypto portfolios across various exchanges and wallets, enhancing their overall experience. As a pioneer in non-custodial solutions within the blockchain sector, BTCS emphasizes security and transparency through its validator nodes. An iPhone version of the app is also under development, promising wider accessibility for users.

BTCS Inc. (Nasdaq: BTCS) announced its financial safety amid recent bank failures, stating it has no exposure to Silicon Valley Bank or Silvergate Bank. However, it holds approximately $250,000 at Signature Bank, which is within the FDIC-insured limit. CEO Charles Allen highlighted the importance of non-custodial asset management, allowing crypto users to control their assets while participating in blockchain consensus mechanisms. BTCS offers a proprietary platform, StakeSeeker, that enables users to stake cryptocurrencies and earn rewards without the risks associated with traditional banks or exchanges.

BTCS Inc. (Nasdaq: BTCS) announced the launch of its new feature, AutoStake, through StakeSeeker. This feature enables users to earn rewards via daily compounding on select networks while retaining control of their crypto assets. AutoStake distinguishes itself as the only non-custodial staking provider offering automatic compounding with zero commissions, along with an advanced data analytics platform for portfolio insights. CTO Manish Paranjape highlighted that AutoStake streamlines staking and enhances reward potential. Currently, it supports protocols on the Cosmos Tendermint network, with plans for future expansions.

BTCS Inc. (Nasdaq: BTCS) has clarified the differences between its non-custodial staking platform, StakeSeeker, and Kraken's custodial staking model amid SEC scrutiny. The SEC charged Kraken for not registering its staking program, which requires users to transfer control of their crypto assets. In contrast, StakeSeeker allows users to maintain control over their assets and emphasizes a ministerial role in staking. The platform aims to educate users about managing and securing their cryptocurrencies while providing a unique dashboard for portfolio management. CEO Charles Allen highlighted BTCS's commitment to non-custodial practices, encouraging investor education on asset security.

BTCS Inc. (Nasdaq: BTCS) has engaged Baker McKenzie to investigate its share listings on five German stock exchanges due to investor concerns over transparency and potential price impact on Nasdaq. CEO Charles Allen highlighted that shares listed outside the EU lack protection against short selling regulations, urging action to delist from these exchanges. The firm will assist BTCS in determining when and who listed their shares and aims to maintain investor trust. BTCS focuses on blockchain technology, offering staking services and a cryptocurrency dashboard, StakeSeeker, designed for portfolio management and earnings through staking.