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Gungun Bhatia
Dec 27, 2022
by Gungun Bhatia

Argo Blockchain Suspends Trading in the US Shares for 24 Hours

Argo Blockchain Trading

Table of contents

  1. Argo Blockchain Halts Trading in the US
  2. US And UK Prohibited Trading of ARBK shares
Argo Blockchain, a cryptocurrency miner whose shares are listed on the London Stock Exchange (ARB) and Nasdaq (ARBK), has sought a 24-hour pause of trading in the United States. Tuesday is a market-free day in the United Kingdom.

Argo Blockchain Halts Trading in the US

The London-based business, which is in negotiations to get finance, stated that it plans to publish a statement before Wednesday's opening of trade.

The business said on December 12 that a reorganization without filing for bankruptcy was almost complete. In order to expand its balance sheet and increase its liquidity, it claimed to be in active discussions to sell some of its assets and complete an equipment financing deal.

US And UK Prohibited Trading of ARBK shares

At the beginning of December, both the US and the UK outlawed trading in the shares of the London-based Argo Blockchain (ARBK). There was no mention of the precise reason for the termination. At the end of October, Argo said that a plan to purchase $27 million from a potential investor had been approved, which caused its shares to fall by more than 70%.

In its November operational report, Argo mentioned that it was still in touch with possible lenders to provide the company with financial injection sufficient for its immediate needs. A follow-up announcement will be made in due course. Argo and many other publicly traded bitcoin miners have suffered recently as a result of the decreasing cryptocurrency prices and increasing energy expenses.

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Cryptocurrency Bitcoin Mining Argo Blockchain (ARBK) share trading
Argo Blockchain Suspends Trading in the US Shares for 24 Hours
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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