Riot Blockchain Inc (NASDAQ:RIOT) Issues Shareholder Update


Riot Blockchain Inc (NASDAQ:RIOT) Chairman and CEO John O’Rourke issued updates related to its accomplishments and progress so far, to company’s shareholders. He appreciated investors support in their vision to build a major blockchain technology firm. He considers they are strongly positioned at the forefront of this market with many thrilling prospects on the horizon.

The details

More recently, CNBC issued a negative one-sided piece on firms that seek to join the blockchain bandwagon by altering their name and profiled their firm. Had the journalist utilized even a modest sum of expert diligence, CNBC would have even announced on the numerous achievements they have done in becoming a preliminary entrant in the support of cryptocurrency and blockchain technologies. Riot CEO added that to his knowledge, they were also the initial Nasdaq listed firm to have blockchain technology in its name and had no clue how the market would have reacted when the transition was done.

Not to be deterred, he wishes to offer an information of where company stands in current time and answer to some of their attacks. They have made considerable inroads in establishing a diversified portfolio of investments and to start securing digital assets.

Riot Blockchain primarily entered the blockchain segment with an outlay in goNumerical ltd, dba “Coinsquare”. Coinsquare has developed into the major digital currency exchange in Canada. It recently posted an institutional financing round of CAD$430 million, directed by an international asset manager with more than a trillion dollars in assets. Riot Blockchain currently owns around 12.5% of Coinsquare, an interest now valued more than CAD$50 million.

Riot completed a financing worth $37 million at $22.50 a share in restricted stock with quite a lot of billion-dollar institutions as shareholders. Canaccord Genuity served as the financial advisor for the respective financing. Riot has finalized a Letter of Intent to buy a CFTC licensed registrant.


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