RATE Group | Cryptocurrency-related shares plummet as Bitcoin falls
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Cryptocurrency-related shares plummet as Bitcoin falls

16 Nov Cryptocurrency-related shares plummet as Bitcoin falls

Posted at 07:09h in Cryptocurrency News by

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Shares of several cryptocurrency-related companies in Asian markets fell Thursday, following earlier losses among U.S. names after Bitcoin led a sell-off in digital currencies.

Monex Group Inc., which owns the Japanese exchange Coincheck, and SBI Holdings Inc. each fell more than 2 percent to close at two-week lows in Tokyo, while Vidente Co. and Omnitel Inc. ended the day down at least 7 percent in Seoul to lead declines among crypto-linked stocks.

Blockchain-related stocks in the U.S. earlier fell in Wednesday trading. Ideanomics Inc. plunged 49 percent, the fintech firm’s biggest one-day loss since 2010, after reporting worse third-quarter results compared with a year ago due to infrastructure costs and new executive team hires. Xunlei Ltd. depositary receipts tumbled 13 percent.

Bitcoin, the largest cryptocurrency, plunged as much as 15 percent during U.S. trading hours, and was steady at $5,571.18 as of 8:27 a.m. in London, according to consolidated pricing data compiled by…

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