Yesterday the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization in the U.S., published a new warning about cryptocurrency-related stock fraud.
FINRA, an organization which provides testing and licensing for registered brokers and financial professionals, said that investors should be cautious when assessing solicitations from such firms that seek to fund cryptocurrency initiatives without the business fundamentals and transparent financial reporting to back up such claims.
The company added that today it’s easy for companies to make glorified claims about new products, services and other cryptocurrency-related connections due 'hot' cryptocurrency environment.
Long Island Iced Tea Corp. announced yesterday that it changes its name to "Long Blockchain Corp." after shifting its primary corporate focus towards the investment in blockchain technology. The stock price of Long Island soared by more than 200% in the wake of its announcement.
Long Island Iced Tea Charts
Recently, we have also reported that Veltyco company saw its stock price leap higher after telling investors it has started discussions with blockchain and cryptocurrency providers about potential partnerships. After the announcement Veltyco’s shares jumped 20%.