Crypto Stocks Hit By Rout in What Bulls Hoped Would Be Epic Week

Crypto Stocks Hit By Rout in What Bulls Hoped Would Be Epic Week

(Bloomberg) -- The week when Bitcoin joined the ranks of the world’s official currencies was supposed to be a watershed moment for crypto bulls -- and the constellation of publicly traded companies that orbit around it.

It didn’t go as expected. The rollout in El Salvador was snared by glitches. Global policymakers issued warnings about cryptocurrency volatility. And Coinbase Global Inc., the largest U.S. exchange for such tokens, said it may be sued by the Securities and Exchange Commission, signaling that regulators are poised to crack down on the industry.