page contents Long Blockchain Corp has officially been delisted by SEC – The News Headline

Long Blockchain Corp has officially been delisted by SEC

Stocks of Lengthy Bitcoin Corp (LBCC), a beverage corporate grew to become cryptocurrency mining corporate, were formally delisted by way of the US Securities and Trade Fee, or SEC. 

The corporate used to be ordered to delist its inventory after failing for years to supply any monetary reviews. Lengthy Bitcoin Corp’s closing income record used to be for the quarter finishing Sept. 30, 2018, in line with Bloomberg.

Lengthy Bitcoin Corp is registered within the state of Delaware, in line with SEC filings.

At the start referred to as Lengthy Island Ice Tea, Lengthy Bitcoin rebranded right through the peak of crypto euphoria in January 2018. That used to be in a while after Bitcoin (BTC) peaked in value and proper across the time that altcoins hit new all-time highs. On the time, Lengthy Blockchain mentioned there “can also be no assurance” that it’ll achieve success in growing disbursed ledger generation.

In line with the SEC, the corporate’s shift from drinks to blockchain by no means materialized. Underneath the stipulations of the SEC’s order, Lengthy Blockchain agreed to have its stocks revoked with out admitting or denying the regulator’s findings.

As Cointelegraph in the past reported, Lengthy Blockchain used to be in monetary hassle lengthy earlier than the rebranding. The tech-heavy Nasdaq alternate delisted the corporate in April 2018 because of low marketplace capitalization.

LBCC stocks by way of Yahoo Finance

As of Friday — probably, its ultimate buying and selling day — Lengthy Blockchain Corp used to be value $1.12 in line with percentage, for a complete marketplace price of $32.7 million.

LBCC percentage costs surged right through the peak of the 2017 to 2018 bull marketplace earlier than declining precipitously over a four-month length. The corporate used to be necessarily a penny inventory between 2018 and 2020.

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