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Deutsche Boerse to Delist Coinbase’s Shares (COIN) on Friday: Report



A week after going public, Coinbase’s shares (COIN) will be delisted from the Deutsche Boerse on Friday due to missing reference data.

Germany’s leading stock exchange, Deutsche Boerse AG, plans to delist COIN – the shares of the largest American cryptocurrency exchange, Coinbase. The organization justified its decision with wrongfully inserted reference data, which has to be resolved before COIN is relisted.

  • Reuters reported earlier today Deutsche Boerse’s intentions to remove the shares of Coinbase from its trading platform.
  • The large exchange breached “missing reference data for these shares” as the primary reason for the delisting.
  • Upon their launch at Deutsche Boerse’s platforms, the COIN shares started trading with an error in the so-called LEI code. However, the statement outlined it was still unclear who made the mistake.
  • The LEI codes are individual reference lines needed for identification and a regulatory requirement for admission of listing and trading.
  • The Frankfurt-headquartered organization added, “the only way for Coinbase to resume trading is for the issuer to apply for an LEI.”
  • CryptoPotato reported last week when the giant US-based crypto exchange officially became a publicly traded company as it debuted on Nasdaq.
  • The development was regarded as a significant milestone in the cryptocurrency adoption cycle as it became one of the largest public listings in US history.
  • COIN started with a price tag of around $400 but faced enhanced volatility immediately after the launch. Following a price slump of over $100, the Coinbase shares have calmed above $300.

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