Crypto-related stocks rise as bitcoin bounces back
BUZZ-Crypto-related stocks rise as bitcoin bounces back ** Most cryptocurrency and blockchain-related firms rise on Weds as bitcoin recovers some lost ground
** Bitcoin BTC=, world's largest cryptocurrency, last up 3.3% to $80,374.82, after briefly touching a seven-week low overnight, triggered by Democrat midterm wins, viewed as a potential blow to an industry that has sought faster deregulation for digital assets
** Confidence in cryptocurrencies has also been dented by the $6 bln hack of the Binance platform last week, the largest heist in crypto history
** Shares of crypto exchange Coinbase Global COIN.O up 3% on Weds
** BTC hoarder Strategy MSTR.O jumps 6%
** Retail trading platform Robinhood Markets HOOD.O up 2%
** Some crypto miners gain: Riot Platforms Inc RIOT.O up 14% and Bit Digital BTBT.O up 2%, though Mara Holdings MARA.O losing 3% on Weds
** Shares of American Bitcoin ABTC.O, backed by the two eldest sons of President Trump, up >2%; but Hut 8 HUT.O, a majority owner of ABTC, tumbles 18%
** Stablecoin issuer Circle Internet CRCL.N up 1%. CRCL early Weds posted Q3 rev beat, driven by ARC token presale
** ProShares Bitcoin Strategy ETF BITO.P and iShares Bitcoin Trust ETF IBIT.O both up nearly 4% on the session
** Ether ETH= up 6.4% at $2,482.05 on Weds
** Ether-linked stocks Bitmine Immersion Technologies BMNR.A and Sharplink Gaming SBET.O up 8% and 9%, respectively
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))