Crypto stocks tumble as bitcoin selloff continues
(Reuters) - A slew of blockchain- and bitcoin-related stocks sank on Wednesday following a steep fall in the price of the cryptocurrency over the past few days on fears of regulatory clampdowns. Bitcoin, which skyrocketed nearly 2,000 percent last year and hovered near a peak of $20,000, slipped below $10,000 on the Luxembourg-based Bitstamp exchange on Wednesday, adding to a 20 percent slump over the last three days. South Korea, Japan and China have all made noises about a regulatory swoop, and officials in France and the United States have vowed to investigate cryptocurrencies. Shares of Riot Blockchain , Marathon Patent , Longfin Corp , Long Blockchain Corp and Social Reality Inc all fell more than 10 percent. A number of these companies have changed their names and shifted their focus to cash in on the cryptocurrency wave. Riot Blockchain, formerly a biotech company called Bioptix, shifted focus to become an investor in blockchain technology. Long Blockchain was called Long Island Iced Tea Corp as recently as last month before it announced a change in its primary business strategy to blockchain technology from beverages. (Reporting by Muvija M in Bengaluru; editing by Sai Sachin Ravikumar)
