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Crypto

Strategy pushes daily dividends for four preferred stocks including STRC

Bitcoin-holding company Strategy is seeking to change the dividend system for four U.S.-listed preferred stocks, including STRC, to a daily basis. The plan does not increase dividend rates or total payouts, but breaks the record date into daily increments to accelerate payments. The board approved the proposal and shareholders will vote on it on Oct. 28. If approved, all calendar days become record dates, with payment on the next business day.

Crypto

Strategy halts bitcoin buying again, redeems $176.3 million of STRC

Strategy stopped buying bitcoin again a week after resuming purchases. It instead redeemed 1,810,885 shares of its STRC preferred stock for $176.3 million and doubled the limit for its digital credit securities repurchase programme to $2 billion from $1 billion. The company did not buy or sell bitcoin from Aug. 31 to Sept. 7 and kept holdings at 845,050 BTC. It said it has $5.1 billion in dollar reserves and $1.44 billion in cash.

Crypto

Kraken starts forced sale of 7 delisted tokens, warns proceeds could be zero if liquidity thin

Global cryptocurrency exchange Kraken has begun automatically selling remaining user holdings in seven delisted tokens after users can no longer withdraw or dispose of them. The sales run from Aug. 3 to Aug. 7 local time and cover PLANCK, AIR, MICHI, FLY, ANLOG, TERM and STRD. Kraken warned some assets trade in limited markets or are effectively inactive, so sales may execute far below displayed prices and could yield little or no proceeds. It did not disclose execution venues, order, fees or spreads.