Deutsche Börse stops Coinbase trading

Only last week, the trading platform for cryptocurrencies made a brilliant debut on Wall Street. In this country, a technical error is causing the premature end of trading. Was that it?

A good reason to celebrate for this employee: Coinbase lettering in Times Square in New York for the stock market debut

Dhe stock market hype surrounding Coinbase, a trading platform for cryptocurrencies like Bitcoin, has come to an early end on the Frankfurt Stock Exchange. Trading in the shares on Xetra and on the Frankfurt Stock Exchange will cease on Friday, Deutsche Börse announced on Wednesday. The reason is of a technical nature – a special code for the titles was given incorrectly. In order for trading to resume, Coinbase must apply for a new code, added a spokeswoman.

The Coinbase shares had made a furious stock market debut on the Nasdaq technology exchange last week. The largest trading center for cryptocurrencies in the United States is currently close to $ 63 billion. Since the IPO, Coinbase shares with a value of almost 100 million euros have been traded on the Frankfurt Stock Exchange and on Xetra, according to Deutsche Börse.

A so-called LEI code – an individual 20-digit code with master data – must be available for each security, which is used to identify the company and is a prerequisite for trading in Europe. When Coinbase started trading, an LEI code was used for a Coinbase unit that cannot be assigned to the company that was launched on the stock exchange last week, the spokeswoman said. The only way to get Coinbase back into trading is for the issuer to apply for an LEI.