Crypto-exposed stocks fall as FTX to file for US bankruptcy protection

BTC Health

11/11/2022 14:48

(Updates)
    ** Shares of cryptocurrency and blockchain-related companies
fall in early trading as bitcoin tumbles again
    ** Bitcoin  BTC=BTSP , the world's biggest and best-known
cryptocurrency, slides 5.8% to $16,551 
    ** Cryptocurrency exchange FTX said it will initiate
bankruptcy proceedings in the United States and its Chief
Executive Sam Bankman-Fried has resigned
    ** BTC has fallen 20.8% this week as FTX stood on the brink
of failure after a bailout from larger rival Binance collapsed
and the chances of other rescue funding looked slim
    ** Ether  ETH=BTSP  falls 6.2% to $1,214
    ** Crypto exchange Coinbase Global  COIN.O  declines 5.5%
    ** Crypto miners mixed - Riot Blockchain  RIOT.O , Marathon
Digital  MARA.O , Bit Digital  BTBT.O  and Hut 8 Mining  HUT.O 
fall between 1% and 9.8%
    ** BTC mining machine maker Canaan Inc  CAN.O  down 1.1%
    ** Software company and BTC buyer MicroStrategy  MSTR.O 
falls 10.7%
    ** Crypto bank Silvergate Capital  SI.N  drops 14%, while
Signature Bank  SBNY.O  falls 0.8%
    ** BTC is down ~64.2% so far this year 
 (Reporting by Bansari Mayur Kamdar in Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com; Twitter:
@BansariKamdar))