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Coinbase shares plummet 12% after Deutsche Boerse delisting announcement

On Friday, April 23rd, Deutsche Boerse will delist Coinbase cryptocurrency exchange shares from the Xetra platform and the Frankfurt Stock Exchange. Reported by Reuters.

The reason was an error in the specified LEI-code (Legal Entity Identifier) ​​- an individual 20-digit identifier for financial market participants. To resolve the issue, Coinbase needs to apply for a new LEI.

On the back of the announcement, COIN shares have hit a low of $ 302 and are trading at $ 315 at time of writing.

Data: TradingView.

Recall that on the first day of trading on April 14, the asset management company Ark Invest bought 749 205 shares of Coinbase for $ 246 million.On April 16, Ark Invest additionally acquired COIN for $ 110 million.

In honor of the listing on the Nasdaq, the crypto exchange announced a $ 1.5 million raffle in Bitcoin among new users.

Forbes previously reported that the $ 300,000 invested by the venture capitalist in Coinbase turned into $ 565 million after listing on the Nasdaq.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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