Long Blockchain Corp has officially been delisted by SEC

Stocks of Lengthy Bitcoin Corp (LBCC), a beverage became cryptocurrency mining corporate, were formally delisted by way of the USA Securities and Alternate Fee, or SEC. 

The corporate used to be ordered to delist its inventory after failing for years to provide any monetary studies. Lengthy Bitcoin Corp’s ultimate profits record used to be for the quarter finishing September 30, 2018, in step with Bloomberg.

Lengthy Bitcoin Corp is registered within the state of Delaware, in step with SEC submitting data.

In the beginning referred to as Lengthy Island Ice Tea, Lengthy Bitcoin rebranded right through the peak of crypto euphoria in January 2018. That used to be in a while after Bitcoin (BTC) peaked in value and proper across the time that altcoins hit new all-time highs. On the time, Lengthy Blockchain mentioned there “can also be no assurance” that it is going to achieve success in growing allotted ledger generation.

In keeping with the SEC, the corporate’s shift from drinks to blockchain by no means materialized. Beneath the prerequisites of the SEC’s order, Lengthy Blockchain agreed to have its stocks revoked with out admitting or denying the regulator’s findings.

As Cointelegraph in the past reported, Lengthy Blockchain used to be in monetary hassle lengthy earlier than the rebranding. The tech-heavy Nasdaq trade delisted the corporate in April 2018 because of low marketplace capitalization.

LBCC stocks by the use of Yahoo Finance

As of Friday — probably, its ultimate buying and selling day — Lengthy Blockchain Corp used to be price $1.12 a percentage for a complete marketplace price of $32.7 million.

LBCC percentage costs surged right through the peak of the 2017-18 bull marketplace earlier than declining precipitously over a four-month length. The corporate used to be necessarily a penny inventory between 2018 and 2020.

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