Crypto-Linked Stocks Sink With Bitcoin on South Korean Warning
- Riot Blockchain, Digital Power, others drop on closure jitters
- Korean government said it wanted to clamp down on speculation
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The rout in bitcoin is also taking down stocks with ties to cryptocurrencies.
Pareteum Corp. dropped 26 percent as of 1:13 p.m. in New York, while Digital Power Corp. and LongFin Corp. each slipped more than 6 percent after South Korea’s government said it wanted to clamp down on speculation, potentially by shutting down some exchanges. The warning sent bitcoin below $14,000, leaving it down 29 percent from last week’s record.