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Crypto-Carnage Hits Every Asset Class Tied to Crypto

It wasn’t just cryptocurrencies that crashed Monday, it was crypto exchanges, crypto mining stocks, publicly-traded companies holding large investments in crypto, and crypto ETFs. By the time the closing bell rang, ProShares Bitcoin Strategy ETF had ta…

It wasn’t just cryptocurrencies that crashed Monday, it was crypto exchanges, crypto mining stocks, publicly-traded companies holding large investments in crypto, and crypto ETFs. By the time the closing bell rang, ProShares Bitcoin Strategy ETF had tanked by 20.22 percent on the day, bringing its year-to-date loss to 50.4 percent. Other crypto-related ETFs were similarly hammered. VanEck Bitcoin Strategy ETF gave up 19.86 percent, bringing its year-to-date loss to 53 percent. More

The post Crypto-Carnage Hits Every Asset Class Tied to Crypto appeared first on CounterPunch.org.


This content originally appeared on CounterPunch.org and was authored by Pam Martens - Russ Martens.


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