You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

Crypto-craze icon Long Blockchain has shares delisted by SEC

After failing to file financial reports for years.
Image: Bloomberg

Long Blockchain Corp., the former iced-tea company that became a poster child of crypto-investment excesses, had its shares delisted by US regulators after failing to file financial reports for years.

Long Blockchain, which changed its name from Long Island Ice Tea Corp. in 2017, had been trading over-the-counter since Nasdaq kicked it off its exchange in 2018, the Securities and Exchange Commission said in an order. The SEC officially pulled the Farmingdale, New York-based company’s registration Monday, citing the fact that the last time it filed a financial report was for the quarter ended September 30, 2018.

Moneyweb Insider INSIDERGOLD

Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process.

Choose an option:

R63 per month
R630 per year SAVE R126

You will be redirected to a checkout page.
To view all features and options, click here.

A monthly subscription is charged pro rata, based on the day of purchase. This is non-refundable and includes a R5 once-off sign-up fee.
A yearly subscription is refundable within 14 days of purchase and includes a 365-day membership.

Click here for more information.

Long Blockchain was among obscure micro-cap companies that embraced a massive rally for Bitcoin in 2017 to rebrand themselves as focusing on digital tokens. They were rewarded with huge jumps in their share prices, and scrutiny from regulators as to whether the new business descriptions were legitimate.

In its order, the SEC said Long Blockchain’s shift from making soft drinks to blockchain technology never materialised. The company agreed to have its share registration revoked without admitting or denying the SEC’s findings. Long Blockchain didn’t immediately respond to a request for comment.

© 2021 Bloomberg

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / PODCASTS SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles: Advanced Search
Click a Company: