TORONTO--(BUSINESS WIRE)--Ether Capital Corporation (“Ether Capital” or the “Company”) (NEO: ETHC) would like to reassure its investors on the Company’s handling of its assets and financial strength in response to the latest developments surrounding cryptocurrency exchange FTX.
Ether Capital has no exposure to FTX or its affiliated businesses. We don’t take risks when it comes to our capital and never have since inception. Protecting our Ether is paramount, which is why it is securely held in cold storage using an auditor-approved, multi-signature wallet. This wallet is safeguarded by the Company’s management team and board of directors.
In addition to holding 44,899 ETH on our balance sheet (21,278 of which is Staked Ether), the Company has a healthy amount of liquidity in cash and investments. There is no debt secured against our Ether (including Staked Ether), as well as any other financial or legal claims. Figment, a non-custodial staking provider, operates validators on behalf of our Company and has confirmed there will be no direct or immediate impact on its business in light of recent events.
We have chosen to invest in Ethereum, a highly collateralized and transparent protocol, and remain optimistic about the future of the network. The events of the past week do not sway our conviction and we’ll continue to focus on staking and yield generation in the months ahead.
The Company will continue to monitor the situation involving FTX in the coming weeks and disclose any relevant information. Investors are encouraged to sign-up for Ether Capital’s corporate updates and newsletter to stay informed about the latest developments.
About Ether Capital Corporation
Ether Capital (NEO: ETHC) is a leading public technology company with a long-term objective to become a central business and investment hub for the Ethereum ecosystem. The company has invested the majority of its balance sheet in Ethereum’s native utility token “Ether” as a core strategic asset and yield-generating instrument. The company is focused on financial infrastructure that supports the Ethereum blockchain and delivers corporate value. Ether Capital’s management team and Board of Directors are comprised of crypto natives, leading venture capitalists and traditional finance experts, which uniquely positions the company to identify and capitalize on opportunities in the digital asset ecosystem. For more information, visit http://ethcap.co.
The content of this document is for informational purposes only and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. The information is not investment advice, nor is it tailored to the needs or circumstances of any investor. Information contained on this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement, or public offering of securities. No securities commission or similar regulatory authority has reviewed this document and any representation to the contrary is an offence Information contained in this document is believed to be accurate and reliable, however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice and neither Ether Capital Corporation, nor any of its affiliates, will be held liable for inaccuracies in the information presented.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements in regard to the Ethereum ecosystem. The Company cautions the reader not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Generally, but not always, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “on pace”, “anticipates”, or “does not anticipate”, “believes”, and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, or “will” be taken, occur or be achieved.
Forward-looking statements are based on information available to management at the time they are made, management’s current plans, estimates, assumptions, judgments and expectations. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; market volatility of Ether, uncertainties in regard to the development and acceptance of blockchain technology (including Proof of Stake and Ethereum 2.0), and the Ethereum platform and anticipated timing and impact of the Ethereum network upgrade, timing and terms of proposed transactions related to non-core asset dispositions, assumptions and judgments related to fair value estimates of investment in Wyre, and the other risk factors discussed in the Company’s Annual Information Form dated March 23, 2022, the Risk Factors section in its most recently filed management’s discussion and analysis, the Risk Factors section in its Supplement and Base Shelf Prospectus and its other filings available online at www.sedar.com. Although the forward-looking information contained in this press release is based on assumptions that the Company believes to be reasonable at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. In addition, the Company cautions the reader that information provided in this press release is provided to give context to the nature of some of the Company’s future plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.