Coinbase shares down 12% after delisting of Deutsche Boerse

by in Cryptocurrency News

Coinbase

On Friday, April 23, Deutsche Boerse will delist Coinbase shares from the Xetra platform and the Frankfurt Stock Exchange.

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

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.

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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.