Argo Blockchain Asks For The LSE To Resume Trading And Aims To Raise Money

After being suspended by the UK Financial Conduct Authority, the cryptocurrency mining company Argo Blockchain has asked for the London Stock Exchange (LSE) to allow trade in its ARB shares to resume.

On December 10, it was reported that Argo Blockchain was considering declaring bankruptcy due to a serious liquidity shortage. As a result, trading in its ARB shares on the Nasdaq and London Stock Exchanges was halted.

Argo, however, asked the UK Financial Conduct Authority on December 12 to allow trading of its common shares on the London Stock Exchange to resume.

Argo stated that even though it has not officially declared bankruptcy, company may not have enough money to fund its activities for the upcoming month.

Selling some of its properties and mining machinery is how it plans to increase liquidity.

Argo Blockchain continued by saying that while it is attempting to avoid doing so, “there is no promise that it will avoid such filing.”

In any case, Argo has hired Berkeley Research to evaluate its options and McDermott Will & Emery LLP to serve as legal counsel in an effort to resolve its liquidity crisis.

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