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The Long Island Iced Tea Corp. was planning to diversify its operations with “vague plans to invest in the technology underlying cryptocurrency,” but the Securities and Exchange Commission has now revoked its stock registration, killing the beverage company’s plan. So reports Gizmodo.
The years-long saga comes to a close as a settlement was reached with the Long Blockchain Corp.—that is the new name the company adopted as it was making its initial blockchain plans. However, “the iced tea portion of the business operated as a subsidiary and is still operational,” the article notes.