US SEC charges 3 beneficiaries of Long Island iced tea industry

The United States Securities and Exchange Commission (SEC) sued three insiders who bought the company's products before announcing that Long Island Iced Tea would be turned into blockchain. According to the industry model in 2017 Among them, Eric Watson, the sole owner of Long Island Ice Tea, announced unannounced plans to turn the business into a blockchain industry during the height of the ICO boom. Following the company's announcement, Gannon Giguiere purchased a total of 35,000 shares, making $ 160,000. The Long Island Ice Tea share price soared after the announcement of its renaming to Long Blockchain, but since then it has been delisted from the Nasdaq stock exchange. The FBI announced in 2019 that it was investigating whether those involved in the company benefited from insider dealing.