LOS ANGELES, Dec. 13, 2017 (GLOBE NEWSWIRE) — The Crypto Company (OTC:CRCW), one of the first publicly traded companies in the digital currencies and blockchain sector, today announced plans to execute a 10-for-1 stock split. The company’s shares, currently trading on Over-The-Counter (OTC) markets under the CRCW ticker, experienced a recent surge in value and demand, in correlation with the Q4 rise of the entire digital currency market. The Crypto Company, which went public via reverse merger in June 2017, provides investors a diversified exposure to the emerging asset class of cryptocurrencies and blockchain technologies through proprietary software, trading technology, auditing services and consulting services. The 10-for-1 stock split will automatically convert each current share of The Crypto Company’s stock into ten new shares.
CEO of The Crypto Company Mike Poutre said, “We are aware of the recent fluctuation in our stock, and want to see orderly market activity surrounding the trading of our stock. Splitting the stock will increase our float of free trading shares and is the responsible thing to do.”
Many publicly traded companies have opted to implement a stock split when share price rises sharply or when public interest reaches market peak. In 2013, MasterCard completed a 10-for-1 stock split, and Apple has implemented multiple stock splits, its most recent in 2014.
The Crypto Company’s stock split will occur in accordance with SEC rules and timeframes.
“We hope that an increased float will contribute to a more orderly and safer market for our stock and corresponding investors. All investors should be cautious when they see volatile markets such as this. We encourage everyone to be cautious and judicious when considering the purchase of our stock. There are a lot of companies taking advantage of the euphoria associated with this space, and we do not want be associated with them. We want people to pay attention to the business we are building, not the hype of a stock or the cryptocurrency world. Our hope is to show that we are responsible corporate citizens and that everything we do is in the spirit of the law and protects investors,” Poutre said.
The Crypto Company offers a portfolio of digital assets, technologies, and consulting services to the blockchain and cryptocurrency markets. The Crypto Company recently announced the impending rollout of a full scale, high frequency cryptocurrency trading floor in its California headquarters.
Shareholders will receive their nine additional shares subject to and following the requisite regulatory approvals and waiting period. The exact date will be publicly released ahead of time.
CEO of The Crypto Company Mike Poutre is available for interview
About The Crypto Company:
The Crypto Company is one of the first publicly traded technology companies in the digital currencies and blockchain sector. The Crypto Company offers a portfolio of digital assets, technologies, and consulting services to the blockchain and cryptocurrency markets. Shareholders in The Crypto Company gain diversified exposure to the exponentially growing asset class. Currently, The Crypto Company is developing proprietary technology, including trading management and auditing software, tools, and processes, to assist both traditional companies — from start-up businesses to well-established companies — to operate with and/or trade in cryptocurrencies.
Cryptocurrencies make it less complicated to transfer price range among two events in a transaction; these transfers are facilitated via using public and private keys for security functions. These fund transfers are executed with minimum processing prices, allowing users to keep away from the steep fees charged by maximum banks and monetary institutions for twine transfers.
Valuable to the genius of bitcoin is the blockchain it uses to store an internet ledger of all the transactions that have ever been carried out using bitcoins, imparting a statistics structure for this ledger that is uncovered to a restricted hazard from hackers and can be copied throughout all computers running bitcoin software. Many professionals see this block chain as having important uses in technology, which includes online voting and crowdfunding, and major monetary establishments along with jp morgan chase see capacity in cryptocurrencies to decrease transaction fees with the aid of making fee processing greener.
But, because cryptocurrencies are virtual and do no longer have a valuable repository, a digital cryptocurrency stability may be worn out by a laptop crash if a backup copy of the holdings does no longer exist. When you consider that charges are primarily based on deliver and call for, the price at which a cryptocurrency can be exchanged for another forex can differ widely.
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