Long Blockchain, formerly known as Long Island Iced Tea Company, is scrapping plans to buy Bitcoin miners. The company was widely speculated to have changed its name in order to get a bump from the popularity of Bitcoin and Blockchain. With Bitcoin prices falling, apparently, the company decided now was not a good time to enter the mining scene. Long Blockchain’s stock is down by 50 percent this month.
Bitcoin, Ethereum, EOS, Ripple, NEO Return to Downtrend: Price Analysis, June 5