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Deutsche Börse will be delisting Coinbase (COIN) share on Friday due to a lack of reference data, one week after the listing
Deutsche Börse to Delist Coinbase Following Incorrectly Inserted Reference Data
Germany’s main exchange Deutsche Börse AG plans to delist the COIN from Coinbase, the largest cryptocurrency exchange in the USA. The organization used incorrectly inserted reference data to prove the correctness of its decision and the reference data must be resolved before the COIN is listed again.
Reuters reported earlier today that Deutsche Börse Bank intends to remove Coinbase shares from its trading platform.
The largest exchange violated the “lack of reference data for these stocks,” which is the main reason the company delisting.
When starting on the Deutsche Börse platform, the so-called LEI code error occurred when the COIN share started trading. However, the statement noted that it is still unclear who made the mistake.
The LEI code is a separate 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.”
Lightblocksnews reported last week that the largest US crypto exchange officially became a publicly-traded company when it debuted on the Nasdaq.
This development is seen as an important milestone in the cryptocurrency adoption cycle as it became one of the largest public listings in US 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 above $300.