Long Blockchain deleted from NASDAQ lists

The company previously known as Long Island Tea has finally been delisted from NASDAQ, one of the most popular world stock exchanges, after several warnings.

The main reason behind the exclusion of Long Blockchain’s shares from the platform is manipulation: managers of NASDAQ have suspected the use of a misleading title, which is understandable considering the big price growth which has followed the brand change and the fact that the company has not been involved in digital technologies before the decision to change the brand.

In a very similar occasion in the Southeast Asia, one of exchanges decided to pay more attention to projects which claim they would use blockchain or mention this technology in brands: the abuse of the theme has become popular among those who hope to pump the share price.

All things considered, Long Blockchain is lucky it was not delisted a few days after the brand renaming. In response to the allegations first made by NASDAQ in February this year, Long Blockchain denied it and vowed to prove they were not fooling anyone. Looks like this didn’t happen, and now the company declines to additionally comment the event in the press.

Image courtesy of Andrew Kelly / Reuters