Coinbase shares fall 12% after Deutsche Börse delisting announcement

On Friday, April 23, Deutsche Börse will delist Coinbase’s shares from the Xetra platform and the Frankfurt Stock Exchange. Reuters reports.

The reason was an error in the listed LEI code — the 20-character Legal Entity Identifier used by market participants. To resolve the issue, Coinbase must apply for a new LEI code.

In response to the announcement, COIN shares fell to a low of $302 and were trading around $315 at the time of writing.

Earlier, on the first day of trading on 14 April, asset-management firm Ark Invest bought 749,205 Coinbase shares for $246 million. On 16 April, Ark Invest additionally purchased COIN for $110 million.

Earlier, to celebrate Nasdaq listing, the crypto exchange announced a $1.5 million Bitcoin giveaway for new users.

Earlier Forbes reported that the $300,000 invested by a venture investor in Coinbase had turned into $565 million after the Nasdaq listing.

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