Crypto stocks: Slumps even as Bitcoin steadies after overnight rout

Sos

19/04/2021 10:47

** Shares of cryptocurrency and blockchain-related firms
down premarket even as Bitcoin  BTC=BTSP  steadies 1.4% to
$57,083.41 after plunging as much as 14% on Sunday
    ** Smaller rival Ether  ETH=BTSP , the coin linked to the
ethereum blockchain network, also up 0.4% to $2,250.22
    ** Bitcoin, the world's biggest cryptocurrency tumbled to
$51,541 on Sunday following speculation the U.S. Treasury may be
looking at cracking down on money-laundering activity within
digital assets and on reports of mass outage in China's Xinjiang
region affecting miners  urn:newsml:reuters.com:*:nL1N2MB07M 
    ** Digital currency bank Silvergate Capital Corp  SI.N  down
4.5% before the bell; cryptocurrency miner Riot Blockchain
 RIOT.O  slips 8.7% and Marathon Digital Holdings  MARA.O 
trades 7.4% lower
    ** China-focused Future Fintech Group  FTFT.O  and SOS Ltd
 SOS.N  tacks down 7.7% and 5.1%, respectively
    ** Cryptocurrency exchange Coinbase Global Inc  COIN.O  also
slids 3.4% after regulatory filings showed CEO Brian Armstrong
sold about $292 mln in shares in total on first day of trading
on the Nasdaq in the past week  urn:newsml:reuters.com:*:nL1N2MB0N6
     ** Carmaker Tesla  TSLA.O  - a strong proponent of Bitcoin
falls 1.8%
    ** Shares of MicroStrategy Inc  MSTR.O , a BTC buyer and
business intelligence software firm, lost 4.3%
    ** Bitcoin down ~12.1% or $7,775.81 from its record high set
on Wednesday, but still up 96.8% YTD
 

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))