Deutsche Börse to Delist Coinbase Shares (COIN) from its Trading Platform on April 23rd

Deutsche Börse will delist Coinbase (COIN) on Friday due to a lack of reference data.

Deutsche Börse to Delist Coinbase Shares (COIN) from its Trading Platform on April 23rd

Deutsche Börse AG, a marketplace organizer for the trading of shares and other securities, plans to delist the COIN, the largest cryptocurrency exchange in the USA. The action is taken due to providing incorrect reference data to prove the correctness of its decision.

Coinbase violated the “lack of reference data for these stocks,” which is the main reason why the company is delisted. However, the statement noted that it is still unclear who made the mistake. 

When starting on the Deutsche Börse platform, the so-called LEI code error occurred when the COIN share started trading. The LEI code is a significant reference line required for identification, as well as regulatory requirements for listing and trading authorization.

The Frankfurt organization added: “The only way for Coinbase to resume trading is for the issuer to apply for an LEI.”

This development is seen as an important milestone in the cryptocurrency adoption cycle as it became one of the largest public listings ever in history.

The initial price for COIN was around $400 but was exposed to higher volatility immediately after its release. After falling more than $100, Coinbase’s share price stabilized over $300.

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