East Asian companies with cryptocurrency ties have experienced significant share price declines following Bitcoin's drop below $90,000, marking a 12% decrease over the past week. Japanese firms such as Bitcoin Japan, Gumi, SBI Holdings, and Monex Group have been notably affected, with Bitcoin Japan's shares plummeting nearly 60% in just five days. South Korean companies, including T Scientific and Hanwha Investment & Securities, also faced declines, although no major crypto firms are currently listed in the region. The broader market indices in Japan and South Korea fell as well, but the impact was more pronounced on crypto-linked stocks.
East Asian Crypto Stocks Plunge as Bitcoin Dips Below $90,000
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