“We are excited to announce the creation and potential distribution of the Voucher, which we believe will create a pathway for every single BTCS shareholder to utilize blockchain technology seamlessly in their daily lives on an exchange where order books are enforced by blockchain smart contracts,” said
Allen continued, “In order to have fair and transparent markets which protect our retail investors, the time is now to move away from T+2 settlement. For the integrity of our markets and the protection of all investors, we need to embrace blockchain technology and have real-time settlement. Taking this step and creating a path to have every single BTCS shareholder utilize this technology is a way BTCS can illustrate the power of blockchain technologies we secure, and, hopefully, jump-starting and fast-tracking the ongoing discussion initially proposed by the
“It’s unconscionable that since going public, BTCS has been on the Reg SHO Threshold List 77 times; further,
Some claim blockchain technology lacks real world applications, however, security exchanges built on blockchains such as Ethereum are strong use cases that illustrate the potential future of capital markets. BTCS believes the time to start transitioning is now. While BTCS highlighted this use case in an investor presentation filed as an exhibit to an 8-K on July 7, 2015 (page 7), only now, after years of research, are we finally in a position to make this a reality. This is a natural extension of BTCS’s commitment to innovation and reflects the Company's belief in both Ethereum and the potential of decentralized technologies to bring innovation to traditional financial markets.
The Vouchers will have no voting rights, no rights to dividends, be redeemable by the Company after one year from issuance, and not be eligible for conversion after
*Investor Notice
While the Voucher is not deemed a “sale” under the Securities Act of 1933 and the Company does not believe it is a “sale” under states securities laws, investors should consider the following disclaimer:
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Voucher and no offer, solicitation or sale of the Voucher shall be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Offers, solicitations and sales of the Voucher will be made only by means of a prospectus supplement and the accompanying prospectus, forming a part of an effective registration statement or under an applicable exemption from registration. Investors should note that the Company does not plan to list the Voucher for trading on any exchange.
About BTCS:
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 the Vouchers including its timing, terms and the exchange on which the common stock into which the Voucher would be convertible will be listed for trading, as well as the perceived and anticipated benefits to shareholders and the financial markets in general of the Vouchers 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 Voucher distribution due to administrative, regulatory or other challenges, including failure to obtain a DTC eligible CUSIP number, the Company’s broad discretion with respect to the Vouchers, possible trading volatility, pricing discrepancies or other negative characteristics of the exchange selected for trading of the common stock into which the Voucher would be convertible, dilution for Voucher holders who do not make a conversion election before the Voucher is redeemed, 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
Investor Relations:
ir@btcs.com
Public Relations:
Mercy Chikowore
m.chikowore@btcs.com
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