The Chinese government’s clampdown on cryptocurrencies has not only sent bitcoin tumbling, it’s also hitting the shares of related companies. Hong Kong-listed PC Partner Group Ltd., which makes graphics cards used in bitcoin mining, has tumbled 27 percent since China’s central bank declared initial coin offerings illegal earlier this month. On the mainland, Shenzhen- based Ysstech Info-tech Co. and Beijing’s Global Infotech Co. -- which both have links to blockchain technology -- have retreated at least 5 percent.
Bitcoin was headed for a sicth day of losses Friday, the longest slide since November 2014
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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