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DOG treasury firm C2 Blockchain (OTC: $CBLO) says it plans to reduce its outstanding common shares by approximately 245 million.
According to an announcement on Monday, the Florida based company is looking to strengthen capital structure and enhance long-term value for shareholders.
For much of the first quarter of 2026, C2 Blockchain remained focused on aggressively expanding its digital asset holdings of DOG (CRYPTO: $DOG), a digital asset issued through the Bitcoin Runes protocol.
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“As we continue to execute on our strategy of building a leading digital asset treasury and expanding our blockchain initiatives, maintaining an efficient capital structure is a key priority for the Company,” said Levi Jacobson, Chief Executive Officer of C2 Blockchain Inc.
While the total outstanding common shares will decrease materially, the company confirmed that its authorized share count would remain unchanged, so that it could raise capital in the future if needed.
The capital restructuring follows a series of DOG token acquisitions over the last several months. As of late last week, the company reported that its corporate holdings had grown to 875,028,269 DOG.
The company currently maintains a public dashboard at C2DOG.com to provide real-time verification of its holdings, which are custodied through Kraken.
The firm said it will provide further updates as the share cancellation progresses and the final outstanding share count is confirmed.
Shares of CS Blockchain are trading at 8 cents, down 33 percent.