This risk-off reaction caused stocks of crypto-related companies to tank. Japan’s Monex (8698) ended the day 10% below its open on Thursday, as did Hong Kong’s OKG Technology Holdings (1499), which runs blockchain explorer OKLink and provides custodial services for cryptocurrencies. Hong Kong-listed BC Technology Group (0863) was down 15% on Friday morning.
Monex and OKG saw some nominal recovery later on during the trading session, rising over 1% as bitcoin added 13.5% to regain the $30,000 price level.
Elsewhere, shares of Hong Kong’s Meitu (1357) gained 1.1% on Friday after a brief slide on Thursday. The software company purchased over $100 million in bitcoin and ether in 2021.
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