Coinbase De-Listed From German Exchange Over Missing Reference Code

Trading of Coinbase shares on Germany’s largest exchange is expected to come to a halt on Friday, because the crypto exchange is missing a mandatory legal identifier.

On Wednesday, Deutsche Boerse AG said it will de-list Coinbase shares from the Frankfurt Stock Exchange and the Xetra trading system by the end of day Friday. “The reason for the de-listing is a missing reference data for these shares,” Boerse said, noting that the freeze would remain in place until further notice.

Coinbase listed its shares on both the Frankfurt Stock Exchange and Xetra at the same time of its US initial public offering, and provided the necessary Legal Entity Identifier. However, the code ended up not being associated to the stock, and as a result, Coinbase shares will no longer be traded on the exchanges effective April 23. “The only way to get Coinbase back into trading is for the issuer to apply for an LEI,” a Deutsche Boerse spokesperson explained.

Following the news, Coinbase shares slumped by nearly 6% in Wednesday’s early trading session. The US cryptocurrency exchange made its debut on the Nasdaq last week via a direct listing, marking a significant breakthrough for major cryptocurrencies including bitcoin and ethereum.


Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Coinbase Estimates Q1 Revenue Surged to $1.8 Billion Ahead of Nasdaq Listing

Ahead of its Nasdaq debut next week, cryptocurrency exchange Coinbase revealed its revenue for the...

Wednesday, April 7, 2021, 11:41:00 AM

Coinbase: Trading Volume Estimates Point To Weak Q2 Earnings

Last week, analysts at Mizuho estimated that the trading volume on Coinbase Global, Inc.’s (NASDAQ:...

Tuesday, July 19, 2022, 03:01:00 PM

Coinbase: Fed XRP Decision Is Bearish For Crypto

On July 31, Judge Jed Rakoff of the U.S. District Court of the Southern District...

Sunday, August 6, 2023, 07:17:00 AM

Coinbase: Kraken Staking Settlement Is A Bad Sign Of What’s To Come

On Thursday, crypto exchange Kraken agreed to “immediately” end its crypto staking-as-a-service platform for U.S....

Sunday, February 12, 2023, 03:47:00 PM

Coinbase Gets Trolled By The SEC

So things just got weird between the SEC and Coinbase (NASDAQ: COIN) after an interesting...

Thursday, September 9, 2021, 01:30:00 PM