BUZZ-Crypto stocks tumble, tracking bitcoin slump on risk-off mood

BUZZ-Crypto stocks tumble, tracking bitcoin slump on risk-off mood

** Cryptocurrency and blockchain-related stocks see broad-based losses premarket as investors move away from riskier assets ahead of Federal Reserve meeting next week, and after Russia proposes ban on use and mining of cryptocurrencies ** Bitcoin, the world's largest digital asset, drops 5% to $38,844.19, eyeing a five-month low, while Ethereum loses 5% to $2,847.86 ** Crypto miners Riot Blockchain, Marathon Digital Holdings, Hut 8 Mining Corp and Bit Digital slip between 3% and 8% ** Blockchain farm operator Bitfarms Ltd drops 7%, BTC mining machine maker Canaan down 4% ** Crypto bank Silvergate Capital and BTC buyer and business intelligence software co MicroStrategy shed 4% and 8%, respectively ** Crypto exchange Coinbase Global declines 4%, while online retailer and blockchain tech investor Overstock.com falls 2% ** The Nasdaq crypto index, which tracks a basket of digital assets, skids 6%; ProShares Bitcoin Strategy ETF, tracking bitcoin futures, slumps 9% ** On Thurs, Russia's central bank proposed banning use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens' wellbeing and monetary policy sovereignty ** Separately, U.S. SEC on Thurs rejected a filing to list and trade a spot bitcoin ETF - the First Trust SkyBridge Bitcoin ETF