Financial News

SHANGHAI, Dec 1 — Hong Kong-listed stocks with cryptocurrency-related businesses tumbled on Monday after China&rsq...

China's central bank has vowed crackdown on virtual currencies, triggering a tumble in Hong Kong-listed stocks with cryptocurrency-related businesses.

China's central bank has vowed crackdown on virtual currencies, triggering a tumble in Hong Kong-listed stocks with cryptocurrency-related businesses.

Cryptocurrencies fell sharply on Monday, bringing fresh momentum to a wide-ranging selloff that appeared to have settled.

The cryptocurrency market is witnessing a major correction, with Bitcoin falling sharply in early Asia trading.

Hong Kong-listed stocks with businesses related to stablecoins tumbled on Monday, after China's central bank vowed to crack down on virtual currencies and flagged stablecoin concerns.

Traders watching US$80,000 on Bitcoin as the next key support level.

The declines follow a weeks-long cryptocurrency selloff that started in early October after US$19 billion in leveraged positions were liquidated.

The crypto market is on shaky ground after a weeks-long selloff that began when some $19 billion in levered bets were wiped out in early October, just days after Bitcoin set an all-time high of $126,251.

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