A decline overnight in Bitcoin impacted related stocks in the U.S. Thursday morning. Weakness in the cryptocurrency was tied to concerns about crypto services in Korea after issues surfaced at two platforms, Delio and Haru.
Haru suspended deposits and withdrawals on June 13, citing a “certain issue with one of the service partners.” It later said, “one of the consignment operators has fraudulently provided management reports containing false information, thereby deceiving the company and our users.”
Noting Haru’s problems, Delio said in order to protect the assets of customers currently in custody it will suspend withdrawals temporarily.
Bitcoin has declined about 3.5% since the issues were revealed. Ethereum was lower by about 5.5%.
Elsewhere, shares of U.S. crypto platform Coinbase (NASDAQ: COIN ) opened lower by about 3.5%. Marathon Digital Holdings Inc (NASDAQ: MARA ) declined 4%, Microstrategy (NASDAQ: MSTR ) declined 5% and Riot Platforms (NASDAQ: RIOT ) declined 4%.
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