Nasdaq to Delist Long Blockchain Stock

The firm announced the exchange's decision on Tuesday, sending the stock price down more than 37.14%
12 April 2018   628

Shares of Long Island Iced Tea, whose price jumped in December after the company's renaming to Long Blockchain, is waiting for Nasdaq delisting this Thursday. This is reported by CoinDesk.

The company unveiled the decision of the stock exchange on Tuesday, along with the price of its shares fell by 37% and reached $ 1.10. Long Blockchain shares were traded just below $ 10 in December.

In February, Long Blockchain announced its intention to challenge the decision shares delisting, but its efforts were not successful.

The Company appealed this determination and a hearing was held on March 22, 2018. Following this appeal, the Hearings Panel determined to uphold the Staff's decision. Accordingly, trading of the Company's shares will be suspended on the Nasdaq Capital Market at the opening of business on April 12, 2018.
 

Long Blockchain Statement

The possible delisting of Long Blockchain became known in October last year. According to the requirements of the trading platform, the market capitalization of the company's shares should stay above the level of $ 35 for 10 consecutive working days. At the time of publication, the capitalization of LBCC is about $ 11 million.

In February, Nasdaq issued a repeated warning, simultaneously suggesting that Long Blockchain was not completely honest with its investors.

The notification letter stated that the staff believed that the Company made a series of public statements designed to mislead investors and to take advantage of general investor interest in bitcoin and blockchain technology, thereby raising concerns about the company's suitability for exchange listing. The company strongly disagrees with the staff's determination and, accordingly, has appealed to a Hearings Panel.
 

Nasdaq Statement

According to the latest announcement, Long Blockchain is not going to give up its plans, including the purchase of a British company.

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   145

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.
 

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.