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Stock impact report

East Asian crypto companies take a battering as Bitcoin price drops below $90,000 [Yahoo! Finance]

Bakkt Holdings, Inc. (BKKT) 
Company Research Source: Yahoo! Finance
Recent months have seen a slew of listed Japanese companies follow Metaplanet's lead into the Bitcoin treasury business. Now, bearish crypto forces are dragging their share prices down by roughly 10% over the last five days. Japanese treasury firms bruised So far, the carnage has been cast wide and includes Bitcoin Japan, formerly Marusho Hotta. The firm, a 164-year-old kimono and textiles producer, this month completed a crypto-themed rebrand after it was acquired by the US-based crypto custody provider Bakkt. Its timing, it appears, could not have been worse. Bitcoin Japan's share prices have dropped by nearly 60% over the past five days. Another big loser on the Tokyo Stock Exchange is the video game developer Gumi, which this year committed itself to a Bitcoin-buying business model. Gumi's share prices have dropped by over 12.5% since the end of last week. Even some of the Japanese crypto industry's heaviest hitters appear to have felt the impact of tumbling cry Show less Read more
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