Long Blockchain Corp. said Friday it has formed a “Blockchain Strategy Committee” to help focus the company’s shift toward blockchain technology. This announcement comes six weeks after the company said it was changing its name from Long Island Iced Tea Corp., and its focus “towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology.” The company said the new committee will be chaired by board member Shamyl Malik, who is currently the global head of trading at foreign exchange trading firm Voltaire Capital. Long Blockchain shares tumbled 8.2% in afternoon trade, putting them on track for a fifth-straight loss to a six-week closing low. It has lost 16.5% over the past 12 months, while the S&P 500 has gained 24.6%.
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