Long Blockchain, former iced-tea turned crypto company, has its shares delisted by the SEC
- Shares of Long
Blockchainhave been delisted by the SEC after failing to file its financial reports.
- The company formerly operated as an iced-tea company, but it tried to pivot to blockchain and changed its name to Long Blockchain from Long Island Ice Tea amid the
bitcoinfrenzy of 2017.
- Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
One chapter of the 2017 bitcoin craze ended this week, with shares of Long Blockchain Corporation delisted by the SEC on Monday, according to a filing first seen by Bloomberg.
Long Blockchain, a company based in Farmingdale, New York, saw its shares delisted from the OTC exchange after it failed to file its financial reports in a number of years. The company's last financial report was submitted to the SEC in 2018.Long Blockchain was formerly known as Long Island Ice Tea Corp., but the company made a pivot to blockchain and changed its name amid the epic rally in cryptocurrencies in 2017. The company was subsequently kicked off the Nasdaq exchange following volatile swings in its share price.
Long Blockchain's fortunes would have likely been reversed if it managed to successfully pivot to the crypto space, given that bitcoin is more than double its peak 2017 price of nearly $20,000 this year, even after falling more than 17% this week.
- Bihar has no governance, state budget a bundle of lies : Tejashwi in assembly
- Haryana to table anti-conversion bill in upcoming budget session: Minister
- Bihar saw 8-fold growth in budget size during both RJD and NDA regimes : Tejashwi
- MVA govt trying to curtail budget session citing pandemic: BJP
- Gangubai Kathiawadi: An inspiring journey of a brothel head and a political leader of Kamathipura