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LTEA

Ticker changed to LBCC

$5.10

0.61 (13.59%)

, SSC

Seven Stars Cloud Group

$4.61

-0.17 (-3.56%)

13:58
01/02/18
01/02
13:58
01/02/18
13:58

Long Blockchain Corp. continues meteroic rise after adding board members

Shares of Long Blockchain Corp. (LTEA) are jumping today after announcing earlier that it has appointed two new members to its board. NEW DIRECTORS: Long Blockchain Corp., formerly Long Island Iced Tea Corp., announced earlier today the appointment of Shamyl Malik, Global Head of Trading at Voltaire Capital, and Som Ghosh, a technology entrepreneur with experience in blockchain technology, to its board of directors. These appointments are nominees of the lender in the company's recently announced convertible debt facility and are consistent with the company's previously announced plan to shift its primary corporate focus towards blockchain technology. SHIFT TO DIGITAL CURRENCY TECHNOLOGY: On December 21, the former Long Island Iced Tea said it is shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology. In connection with the shift in strategic direction, the company announced it was changing its name Long Blockchain Corp. The company said at the time that it will continue to operate Long Island Brand Beverages as a wholly-owned subsidiary and maintain the focus of this business on the ready-to-drink segment of the beverage industry. BLOCKCHAIN MANIA: In late December, Seven Stars Cloud Group (SSC) announced a 27% purchase of The Delaware Board of Trade Holdings, a blockchain-based alternative trading system fully licensed by the SEC, for 1,627,869 shares of SSC common stock. Additionally, on December 15, Longfin (LFIN) announced the acquisition of Ziddu.com, a blockchain-empowered solutions provider that offers microfinance lending against collateralized warehouse receipts in the form of Ziddu Coins. A Ziddu Coin is a smart contract that enables SMEs, processors, manufacturers, importers and exporters using cryptocurrencies across continents. Following the announcement, shares of Longfin rose. On October 4, Bioptix announced it was changing its name to Riot Blockchain (RIOT) in line with a shift in direction to become a strategic investor and operator in the blockchain ecosystem with a focus on bitcoin and Ethereum. BECOMING WORRISOME: According to December 21 Reuters article, Michael Antonelli, managing director at Robert W. Baird in Milwaukee, said, "There's been a continued surge of crypto headlines. It's gotten more worrisome as more companies have changed their names. It's the kind of stuff you saw back in the dot-com era." PRICE ACTION: Shares of Long Blockchain Corp. are up 19% to $6.07 per share in afternoon trading.

LTEA

Ticker changed to LBCC

$5.10

0.61 (13.59%)

SSC

Seven Stars Cloud Group

$4.61

-0.17 (-3.56%)

LFIN

Longfin

$56.30

1.05 (1.90%)

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