Remembering The Kodak Crypto ICO As Stock Prices Soar

Bitcoin’s signature volatility is finally returning, but not even the crypto market has been pumping like Kodak stocks. The photography powerhouse surged Wednesday as high as 500% intraday following news the Trump administration tapped the firm to produce generic pharmaceuticals.

The film and photography brand’s share prices surging brings back memories of the now-defunct KodakCoin initial coin offering the company proposed years ago. With Kodak (KODK) stocks back in the news once again, let’s take a walk down memory lane to remember the ICO that never came to be.

Kodak (KODK) Stocks Soar Over 1,000% In a Week On Trump Pharma News

Kodak was trending on Google yesterday and all over social media. The reason is that the United States has tapped the photography giant to produce generic drugs in response to the pandemic.

In response, the stock price soared as high as 570% yesterday and closed out the session with a 318% gain. Circuit breakers were tripped and trading was halted 20 times due to the explosive volatility.

Coinbase 2

Related Reading | Why A Stock Market Listing For Coinbase Is Ultimately Ironic For Crypto

Trump said the move was to bring jobs back stateside and to “make America the world’s premier medical manufacturer and supplier.”

Kodak (KODK) stock prices are up over 2,700% on the week.

kodak stock price KODK

kodak stock price KODK

KODK Stock Price 2,700%+ Weekly | Source: TradingView

KodakCoin Retrospective: The Promising Blockchain Project That Never Was

Kodak was once a pioneer in the photography space, but failure to adapt to the digital age caused the company to file for bankruptcy in 2012. The brand has been struggling to find its niche since, and big pharma may be it.

Prior to this week’s stock surge, the last time KODK stocks made headlines for suddenly rising, was also the last time the company attempted to reinvent itself.

After falling victim to the digital photography era, the brand was hell-bent on not missing out on the blockchain bandwagon.

In 2018, as the crypto market bubble burst, the firm announced plans for an initial coin offering for a crypto asset dubbed KodakCoin.

Related Reading | The Great Ethereum Debate: DeFi Versus ICOs

KodakCoin would underpin a rights-management platform for photographers based on blockchain. The idea had real merit, but eventually, interest in cryptocurrencies faded, ICOs became a target for US regulators, and the launch never took place.

It is not uncommon for brands to hop on a bandwagon as soon as it starts trending. During the crypto boom, Long Island Iced Tea changed their company name to the Long Blockchain Company, and stocks quadrupled as a result.

ICOs and the blockchain buzz have since disappeared, but what remains is Kodak on the search to find its footing as a business once again. Is this time finally it for the former film producer?

Remembering The Kodak Crypto ICO As Stock Prices Soar 1
blank
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

blank

E-Crypto News Executive Interviews


blank

bitcoin
Bitcoin (BTC) $ 33,867.00
ethereum
Ethereum (ETH) $ 2,162.01
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 302.94
cardano
Cardano (ADA) $ 1.21
xrp
XRP (XRP) $ 0.609035
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.195029
polkadot
Polkadot (DOT) $ 13.57
binance-usd
Binance USD (BUSD) $ 0.999557
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 33,867.00
ethereumEthereum (ETH)
$ 2,162.01
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 457.40
litecoinLitecoin (LTC)
$ 125.61
bitcoinBitcoin (BTC)
28.688,23
ethereumEthereum (ETH)
1.831,41
tetherTether (USDT)
0,847085
bitcoin-cashBitcoin Cash (BCH)
387,46
litecoinLitecoin (LTC)
106,40
bitcoinBitcoin (BTC)
24,602.17
ethereumEthereum (ETH)
1,570.56
tetherTether (USDT)
0.726435
bitcoin-cashBitcoin Cash (BCH)
332.27
litecoinLitecoin (LTC)
91.25

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
blank
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020
KuCoin hackers steal $150 million
KuCoin Exchange Hacked But Insurance Will Cover The Stolen $150M
September 29, 2020

Blockchain/Cryptocurrency Questions and Answers

Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021
blank
What Is Plethori Platform And How Does It Work?
June 12, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin33,826 0.15 % 3.78 % 7.73 %
Ethereum2,156.1 0.22 % 3.78 % 15.04 %
Tether1.000 0.12 % 0.18 % 0.14 %
Binance Coin302.79 0.47 % 4.08 % 0.13 %
Cardano1.210 0.27 % 2.19 % 3.35 %
XRP0.6071 0.37 % 1.54 % 2.66 %
USD Coin0.9997 0.22 % 0.21 % 0.09 %
Dogecoin0.1949 0.04 % 1.09 % 11.48 %
Polkadot13.57 0.92 % 4.82 % 12.93 %
Binance USD0.9993 0.25 % 0.46 % 0.53 %

bitcoin
Bitcoin (BTC) $ 34,405.00
ethereum
Ethereum (ETH) $ 2,191.84
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 305.05
cardano
Cardano (ADA) $ 1.24
xrp
XRP (XRP) $ 0.616652
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.201635
polkadot
Polkadot (DOT) $ 13.96
binance-usd
Binance USD (BUSD) $ 1.00