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   756

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.

Binance to Change Launchpad IEO Rules

Binance is going to implement the lottery format for the next tokensale campaign
25 March 2019   13

Binance announced a change in the format of the next tokensale on the Launchpad platform to a lottery. At the same time, the number of lottery tickets per account will depend on the size of the steak in the BNB for 20 days before IEO.

Note that one account can get up to 5 lottery tickets. Winners will be selected by randomizer.

BNB Balance to Lottery Tickets Ratio
BNB Balance to Lottery Tickets Ratio

It is noteworthy that within 20 days before the lottery, the BNB-deposit snapshot will be carried out daily at 0:00 UTC to monitor the fulfillment of the conditions.

Each winning ticket will grant the right to purchase tokens for a fixed amount in BNB equivalent. As soon as the user informs the exchange that he is ready to use a certain number of tickets in case of their winnings, this obliges him to purchase tokens and the money will be debited automatically.

Binance acknowledged that the price of BNB may fluctuate due to daily snapshots, and its potential decline may not be covered by the benefit from the new token, and encouraged users to make informed decisions.

In addition, Changpeng Zhao urged the community to comment on the new format in a separate Twitter thread in order to make the necessary feedback-based changes, if needed.

During the Celer Network tokensale on the Launchpad platform again had bandwidth problems; many people did not manage to purchase tokens.