FINRA Warns About Cryptocurrency-Related Stock Scams

The stock price of Long Tea Corp. soared by more than 200% in the wake of its announcement that the company changes its name to "Long Blockchain Corp."
22 December 2017   1437

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 СhartsLong 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%.

South Koreans to Invest in Crypto Actively

In addition to the investment amounts, the share of those interested in investing in digital assets also increased
22 April 2019   95

The average amount of investments in cryptocurrency from South Korean invesetprs is $ 6,100, which is 64% more than last year, Cointelegraph reports.

According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). It is noteworthy that this figure has increased, despite several major break-ins of the South Korean crypto exchange, as well as tougher regulation of the industry.

Analysts connect the market with a recent bitcoin price jump and hope for a new bull rally.

Recall recently it became known that 94% of trust capital funds invest in cryptocurrency.