BTCS Confirms No Exposure In Excess of FDIC Limits to Recent Bank Failures
13 Marzo 2023 - 7:34AM
BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain
technology-focused company, has issued a statement on the recent
failures of Silicon Valley Bank, Silvergate Bank, and Signature
Bank. Although BTCS did not have any accounts or exposure to either
Silicon Valley Bank or Silvergate, as of Friday the Company had an
amount equal to approximately the FDIC-insured limit of $250,000 at
Signature Bank.
Charles Allen, CEO of BTCS, stated, “Crypto was
born out of the 2008 financial crisis, teaching us an important
lesson - custodying your own assets is one of the safest ways to
protect your wealth. Crypto exchanges and banks have failed. At
BTCS, we offer a non-custodial solution for crypto enthusiasts to
participate in blockchain consensus mechanisms, generate rewards,
maintain control of their assets, and mitigate risks associated
with bank or exchange failures.”
BTCS provides a non-custodial solution for
crypto holders to earn rewards by directly participating in
blockchain consensus mechanisms. By maintaining control of their
assets, delegators are not at risk of exchange or bank failures,
which unfortunately have recently been a common occurrence in both
the crypto and financial industries.
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 digital 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
digital 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
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 will receive 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.
Investor Relations:
ir@btcs.com
Public Relations:Mercy
Chikoworem.chikowore@btcs.com
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