Aussie crypto stocks plummet amid bitcoin rout

Digitalx

17/06/2022 05:56

** Shares of Australia's cryptocurrency-related stocks were
battered during the week as bitcoin  BTC=BTSP , the world's
largest digital asset, slid
    ** Bitcoin was down 56.5% from this year's high of $48,234
on March 28  urn:newsml:reuters.com:*:nL4N2Y335R
    ** BTC extended its slide as recession fears grew after the
U.S. Federal Reserve's 75-basis-point rate hike this week
    ** Bitcoin miner DigitalX Ltd  DCC.AX  plunged 26.2% this
week, its worst week since Mar 2020
    ** DCC has logged eight weekly losses in nine weeks
    ** Crypto investment platform Fatfish Group Ltd  FFG.AX  was
trading flat for the week 
    ** Australian investment firm Raiz Invest Ltd  RZI.AX  was
set to log a weekly drop of 6.4% 
    ** DCC down 64.5%, RZI down 63.1% and FFG declined 53.1% so
far this year, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))