Today, BTCS Inc. (NASDAQ:BTCS), a blockchain technology-focused company with a market capitalization of $68 million and current stock price of $3.93, announced its new official communication channels for disseminating material information. The company has designated two Twitter accounts and its website as the primary sources for updates and information relevant to shareholders, investors, and the public.
The first Twitter account, @NasdaqBTCS, belongs to the company itself, while the second, @Charles_BTCS, is the personal account of CEO Charles Allen. Alongside these social media platforms, BTCS Inc. will continue to use its website, www.btcs.com, and SEC filings to share key information, in compliance with Regulation FD.
In other recent news, BTCS Inc. has made significant changes to its compensation strategy, issuing equity to offset cash compensation. This decision was made to mitigate potential operational disruptions and affects about 30,000 retail investors. The company's board approved the issuance of 347,970 restricted common stock shares, which resulted in a $330,000 reduction in cash compensation.
BTCS Inc. also reported significant developments at its annual meeting, where shareholders elected five directors to the board and ratified RBSM LLP as the independent auditor. An amendment to the Certificate of Designation of the Series V Preferred Stock was approved, granting the board the discretion to convert each share of the Series V Preferred Stock into one share of Common Stock.
Furthermore, BTCS Inc. launched ChainQ, a new blockchain analytics platform that simplifies access to blockchain data. The company integrated Forta Network's AI-powered threat detection into its Ethereum block builder, strengthening regulatory compliance. Despite these advancements, the company postponed its 2024 Annual Shareholders Meeting to secure additional votes, underscoring its commitment to shareholder participation.
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