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Longfin (company)

Longfin (company)

Longfin is a publicly traded American company involved in blockchain technology.

Longfin was established in December 2017. The same month Longfin made headlines when its stock price increased more than 200% and then fell by over 90%. The following month, the Securities and Exchange Commission started an investigation into the company. On March 26, 2018, shares of Longfin dropped after short seller Citron called it a 'pure stock scheme'.

On April 6, 2018, trading of Longfin stock was halted by the SEC and $27 million in allegedly illicit trading profits were frozen as an emergency measure to prevent the money from leaving the U.S. The SEC alleges that CEO and Chairman Venkat Meenavalli issued unregistered stock to three associates who then illegally sold the stock to the public.

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