Silver Spring, MD, Feb. 09, 2023 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology-focused company, announced today that it has engaged Baker McKenzie, specifically their Frankfurt Office, a renowned law firm, to investigate the listing of its shares on five German stock exchanges (Munich, Frankfurt, Stuttgart, Berlin, Tradegate) as well as three other German trading venues. The move comes in response to serious concerns raised by investors over the lack of transparency and potentially detrimental effects on our share price on the Nasdaq, our primary market.
Charles Allen, CEO of BTCS, emphasized the Company's commitment to protecting its investors, particularly its over 35,000 retail investors. “Shares with primary listings outside the European Union (“EU”), including BTCS, are not protected by EU Regulations on Short Selling, which prohibits, among other things, naked short sales which would otherwise be illegal in both the United States and EU.” Allen continued “Our goal is to ensure that our securities trade in fair and transparent markets, and we are taking all necessary steps to achieve that. We did not apply or agree to have our shares traded on these exchanges, and we believe it is important to take action to get delisted and address our investors’ concerns.”
Baker McKenzie has been engaged to investigate when and who listed BTCS on these exchanges, and provide assistance in getting delisted from these exchanges. The Company is determined to provide a resolution to this issue and maintain the trust and protect its retail investors.
“Baker McKenzie is a global law firm with over 6,500 lawyers in more than 70 offices. For more than 70 years, they have helped clients solve their most complex legal challenges and achieve their business goals. With this level of experience and expertise, they are uniquely positioned to help us investigate our listing on these exchanges and provide assistance in getting delisted.” continued Allen.
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.