Blockstack PBC Files Annual Report with SEC

Company releases most comprehensive report since the first-ever SEC qualification for its token offering last year

NEW YORK--()--Blockstack PBC, creator of software for a user-owned internet and secure app ecosystem, has filed its annual SEC report, the most comprehensive filing Blockstack PBC has submitted since conducting the first SEC-qualified digital token offering in US history in 2019. The Stacks (STX) token is believed to be the first and only crypto asset listed on CoinMarketCap for which regular disclosures are filed with the SEC, reflecting an unparalleled level of transparency in the crypto industry.

As part of its $23M raise last year, Blockstack PBC publicly files periodic audited financials with the SEC. Audited financials are typically unheard of for cryptocurrency startups. The annual report includes new audited financials for 2019 and key updates on the Blockstack ecosystem’s progress since last summer. By following standards set by the SEC, Blockstack aims to bring further legitimacy and professionalism to the crypto industry.

Updates include detailed information about the number of apps in the network, strategic partnerships, the legal status of Stacks (STX) tokens in the U.S. and in non-U.S. jurisdictions, the exchanges that have listed STX, audited financials, and team growth.

Since its SEC qualification in July 2019, Blockstack distributed STX to 4,500+ participants of token offerings and forged strategic partnerships in Asia, including partnerships with investors like Recruit, HashKey Group, SNZ, Fenbushi, and others. Apps built on Blockstack’s network grew from 114 in 2019 to over 400. Blockstack partnered with Blockchain.com to distribute STX to 300K owners and integrated Blockstack logins with FireChat. Recently, Blockstack launched the testnet of Stacks 2.0, an upgrade that will allow developers and miners to participate in Blockstack’s consensus mechanism, Proof of Transfer (PoX). PoX interconnects the Stacks blockchain to the security of the Bitcoin network by requiring BTC commitments instead of native Proof of Work mining. The launch of Stacks 2.0 is the next phase in Blockstack’s mission of becoming a fully decentralized ecosystem.

CEO of Blockstack PBC, Muneeb Ali, is available for interview.

Important disclaimer

Blockstack PBC is not registered, licensed, or supervised as a broker dealer or investment adviser by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), or any other financial regulatory authority or licensed to provide any financial advice or services.

Forward-looking statements

This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “intend,” “believe,” or other comparable terminology. These statements involve risks, uncertainties, assumptions, and other factors that may cause actual results or performance to be materially different. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.

Contacts

Mary Dawson
Mary.dawson@wachsman.com
917.900.5178

Release Summary

Blockstack PBC, creator of software for a user-owned internet and secure app ecosystem, has filed its annual SEC report.

Contacts

Mary Dawson
Mary.dawson@wachsman.com
917.900.5178