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ARTICLE · 04 JANUARY 2018

Blockchain Valuations: Should Regulators Be Concerned?

Minden Gross LLP
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A British company changed its name from On-line Plc to On-line Blockchain Plc (ONL:LN), and saw its shares surge 394%; Colorado-based Bioptix Inc.

CanadaCorporate/Commercial Law
Minden Gross LLP
Minden Gross LLP
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A growing concern among capital market regulators around the world is the surge in market capitalization after a company announces a change to its name or a change of business to anything relating to blockchain or cryptocurrency, while not actually conducting substantial business in the blockchain or cryptocurrency industry.

A British company changed its name from On-line Plc to On-line Blockchain Plc (ONL:LN), and saw its shares surge 394%; Colorado-based Bioptix Inc. changed its name to Riot Blockchain Inc. (NASDAQ:RIOT) and nearly doubled in value; and more recently, Long Island Iced Tea Corp changed its name to Long Blockchain Corp (NasdaqCM:LTEA) and its stock soared more than 200%. Long Island Iced Tea Corp will continue making beverages, but stated that its corporate focus will shift to "exploration of and investment in opportunities that leverage the benefits of blockchain technology."

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