Long Blockchain Corp.
Former American ready-to-drink beverage company that rebranded around blockchain ambitions and was later delisted.
Last updated August 31, 2026
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Overview
Long Blockchain Corp. was an American corporation based in Farmingdale, Long Island, New York. Before adopting its blockchain-oriented name, the company was known as Long Island Iced Tea Corp. and operated through its wholly owned subsidiary, Long Island Brand Beverages, LLC. That subsidiary produced ready-to-drink iced tea and lemonade marketed under the Long Island brand. The company's first product became available in 2011, placing it in the packaged beverage sector rather than the technology industry. In December 2017, Long Island Iced Tea Corp. announced a corporate rebranding to Long Blockchain Corp. The company described the change as part of a proposed shift toward exploring and investing in opportunities that could use blockchain technology. It also stated that it was considering blockchain-related acquisitions. The announcement generated substantial speculative interest in the public market: the company's share price reportedly rose by as much as 380 percent shortly after the name-change news, despite the company not having established a blockchain production or operating business at that point. The proposed transformation did not develop into a completed technology business. Long Blockchain later abandoned plans to acquire Bitcoin-mining equipment. On April 10, 2018, the company received notice that Nasdaq intended to delist its shares. After removal from Nasdaq, the stock became eligible for over-the-counter trading. The company subsequently became the subject of regulatory and law-enforcement scrutiny. The United States Securities and Exchange Commission subpoenaed company documents in July 2018, in an investigation widely associated with the name change and the unusual market reaction. The Federal Bureau of Investigation also sought evidence relating to possible insider trading and securities fraud connected with the company's stock. Long Blockchain said it was cooperating with the investigation. The company ultimately failed to complete its announced transition from beverages to blockchain technology. On February 22, 2021, the SEC delisted its shares, citing the company's failure to file financial reports since September 30, 2018, and noting that the planned blockchain-production transition had never been completed. In July 2021, the SEC charged three people with insider trading in connection with trading before the 2017 announcement. According to the SEC's allegations, a leading shareholder tipped a stock broker, who then passed information to an associate. That associate bought 35,000 shares and sold them about two hours after the announcement for an alleged profit of approximately $160,000. In September 2024, Canadian broker Oliver-Barret Lindsay agreed to pay a $75,000 penalty in a no-contest resolution without admitting or denying the SEC's allegations. Long Blockchain therefore became an example of a public-company rebranding that attracted intense cryptocurrency-era speculation but did not produce the promised operating transformation.
History
Long Blockchain Corp. originated as Long Island Iced Tea Corp., an American beverage company headquartered in Farmingdale, Long Island, New York. Through its wholly owned subsidiary Long Island Brand Beverages, LLC, it sold ready-to-drink iced tea and lemonade under the Long Island brand. The company's first product was made available in 2011. Its original business was therefore centered on packaged non-alcoholic beverages rather than financial technology, cryptocurrency, or software. The company's defining turning point came in 2017, when it changed its name to Long Blockchain Corp. and announced an intended strategic shift toward exploring and investing in blockchain-related opportunities. The company said it was considering acquisitions that would use blockchain technology. The rebranding occurred during a period of intense public and investor interest in cryptocurrencies and blockchain businesses. Its stock price reportedly increased by as much as 380 percent following the announcement, even though the company had not yet established a substantial blockchain operating business. Long Blockchain later abandoned a plan to purchase Bitcoin-mining equipment. The proposed change in business direction consequently remained incomplete. On April 10, 2018, the company received a notice that Nasdaq would delist its shares. Following the delisting, the shares became eligible for over-the-counter trading. The rebranding and associated trading activity attracted regulatory attention. On July 10, 2018, the SEC subpoenaed documents from the company. The investigation was widely understood to concern the name change and trading surrounding the announcement. The FBI also sought evidence relating to potential insider trading and securities fraud connected with Long Island Iced Tea stock. The company said that it was fully cooperating with the investigation. On February 22, 2021, the SEC delisted Long Blockchain's shares. The regulator cited the company's failure to file financial reports since September 30, 2018, and stated that the company had never completed its planned transition to blockchain production. The company thus ended its public-market history without becoming the blockchain-focused enterprise suggested by its 2017 corporate identity. The regulatory aftermath continued after the delisting. In July 2021, the SEC charged three people with insider trading. The agency alleged that a leading shareholder tipped a stock broker before the rebranding announcement, and that the broker passed the information to a friend. That trader allegedly purchased 35,000 shares and sold them approximately two hours after the announcement for an alleged profit of $160,000. In September 2024, Canadian broker Oliver-Barret Lindsay agreed to pay a $75,000 penalty in a no-contest judgment without admitting or denying the SEC's allegations. These proceedings shaped the company's legacy as a beverage issuer whose blockchain rebranding produced market speculation, regulatory scrutiny, and an unsuccessful corporate transition.
- 2024
Broker agrees to SEC penalty
[1]Oliver-Barret Lindsay agreed to pay a $75,000 penalty in a no-contest resolution related to the insider-trading allegations.
- 2021
SEC delists the company's shares
[1]The SEC delisted the shares after citing missing financial reports and the failure to complete the blockchain transition.
- 2021
SEC insider-trading charges
[1]The SEC charged three people over alleged trading based on advance information about the 2017 blockchain rebranding announcement.
- 2018
Nasdaq delisting notice and move toward over-the-counter trading
[1]The company received notice of delisting from Nasdaq after abandoning its Bitcoin-mining-equipment purchase plan; its shares subsequently became eligible for over-the-counter trading.
- 2018
SEC document subpoena
[1]The SEC subpoenaed company documents in an investigation associated with the name change and related market activity.
- 2017
Corporate name changes to Long Blockchain Corp.
[1]Formerly Long Island Iced Tea Corp., the company announced a proposed move toward blockchain-related investments and acquisitions.
- 2011
First Long Island beverage product becomes available
[1]The company's first ready-to-drink product was made available under the Long Island beverage branding.
Products and positioning
Ready-to-drink beverage · 2011
Long Island iced tea
A packaged iced-tea beverage sold under the Long Island brand by the company's beverage subsidiary. It was part of the company's original operating business before the 2017 blockchain-oriented rebranding.
Ready-to-drink beverage
Long Island lemonade
A ready-to-drink lemonade offering produced by Long Island Brand Beverages, LLC. It belonged to the company's original beverage portfolio and was not a blockchain product.
Controversies
2021
SEC insider-trading charges
The SEC alleged that advance information about the blockchain rebranding announcement was passed through a leading shareholder and a broker to a trader who allegedly profited from a rapid purchase and sale of the stock.
2018
SEC and FBI scrutiny following blockchain rebranding
The SEC subpoenaed company documents, while the FBI sought evidence concerning possible insider trading and securities fraud connected with trading in the company's stock around the 2017 name-change announcement. The company said it cooperated with the investigation.
Brand decisions
2018
Abandonment of Bitcoin-mining-equipment purchase planStrategyBackground
The company's proposed blockchain expansion included plans to acquire equipment for Bitcoin mining.
Action taken
The company abandoned the planned purchase.
Aftermath
The withdrawal reinforced that the announced blockchain transition had not become an operating technology business.
2017
Rebrand from Long Island Iced Tea Corp. to Long Blockchain Corp.StrategyBackground
The company was operating as a ready-to-drink beverage business when blockchain technology and cryptocurrency became a major focus of market speculation.
Action taken
It changed its corporate name and announced that it would explore investments, acquisitions, and other opportunities involving blockchain technology.
Aftermath
The announcement produced a dramatic short-term stock-price increase, but the company did not complete the proposed transition into blockchain production.
Recent events
- 2018
Long Blockchain receives Nasdaq delisting notice[1]
Regulation · Bankruptcy
Nasdaq notified the company that its shares would be delisted. The company had abandoned a plan to purchase Bitcoin-mining equipment, and its shares subsequently moved to over-the-counter trading.
- 2017
Long Island Iced Tea Corp. rebrands as Long Blockchain Corp.[1]
Product launch · Pricing
The beverage company announced a name change and stated that it intended to explore investments and acquisitions involving blockchain technology. The announcement was followed by a sharp speculative rise in its stock price, reported to have reached as much as 380 percent.
Sources1 sources
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