Cryptocurrency crash ripples through Tokyo stocks

Cryptocurrency crash ripples through Tokyo stocks

Bitcoin has shed much of its value since peaking in December. © AP TOKYO — This week’s plunge in cryptocurrency prices appears to have prompted sell-offs in some corners of Japan’s equity market as squeezed investors seek quick cash, a trend that could accelerate as tax season approaches. Cryptocurrency exchange operator GMO Internet tumbled more nearly 5% Friday and gave up 1% over the four sessions through that day, after soaring 35% from the start of 2017 through Monday. Ceres , which invests in Tokyo-based crypto exchange Bitbank, retreated 18% over the four-day period, while SBI Holdings , a […]