In a revealing turn of events, it has emerged that ConsenSys Celcius Holdings, a significant asset, is held solely by ConsenSys AG, a shell company based in Zug, Switzerland, rather than being distributed among the more than ten other ConsenSys shell companies established across the United States.
Mr.Huber, a tech analyst, shed light on this matter in a Twitter thread:
ConsenSys Celcius Holdings were also held by the ConsenSys AG shell company in Zug, and not by the others 10+ ConsenSys shell companies in the US. pic.twitter.com/wOzc2lnJ2C
— Mr. Huber🔥🦅🔥 (@Leerzeit) June 30, 2023
This discovery sheds new light on the operational intricacies of the blockchain software technology company, ConsenSys. While its network of shell companies spans multiple U.S states, the ConsenSys AG shell company based in the Swiss canton of Zug, known for its crypto-friendly environment, is uniquely entrusted with holding the ConsenSys Celcius Holdings.
The revelation has sparked intrigue among industry watchers, raising questions about why such a strategic decision was made. It points to a potential preference for Switzerland’s financial and regulatory climate, globally recognized for its progressive and permissive stance towards blockchain and other digital technologies.
The presence of over ten other shell companies across the U.S. under the ConsenSys umbrella, none of which hold the Celcius Holdings, further amplifies the curiosity. The revelation also invite closer scrutiny from financial regulators seeking to understand the motivation behind this seemingly unusual asset distribution.
As of yet, ConsenSys has not publicly addressed this matter. The emerging narrative would undoubtedly serve as a critical talking point in the ever-evolving discourse surrounding the operation and regulation of blockchain companies and their intricate, often global networks.
In an ambitious shift to bolster shareholder returns, Shell has announced that it is ramping up its shareholder distributions from the previous 20-30% to a robust 30-40% of Cash Flow from Operations (CFFO) throughout the investment cycle. This boost would be made possible through a well-calibrated blend of dividends and share buybacks, marking a new chapter in the company’s capital allocation strategy.
