** Cryptocurrency and blockchain-related stocks are seeing widespread pre-market losses as investors move away from riskier assets ahead of the Federal Reserve meeting next week, and after Russia proposes a ban on the use and mining of cryptocurrencies
** Bitcoin, the world’s largest digital asset, is down 5% to $38,844.19, ahead of 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 are slipping between 3% and 8%
** Blockchain Farm Operator Bitfarms Ltd Down 7%, BTC Mining Machine Maker Canaan Down 4%
** Cryptobank Silvergate Capital and BTC buyer and business intelligence software co MicroStrategy lose 4% and 8% respectively
** Crypto exchange Coinbase Global is down 4%, while online retailer and blockchain tech investor Overstock.com is down 2%
** The Nasdaq crypto index, which tracks a basket of digital assets, is slipping 6%; ProShares Bitcoin Strategy ETF, Bitcoin Futures Tracking, Down 9%
** On Thursday, the Bank of Russia proposed to ban the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens’ well-being and the sovereignty of monetary policy
** Separately, the US SEC on Thursday rejected an application to list and trade a spot bitcoin ETF — the First Trust SkyBridge Bitcoin ETF Trust — the latest in a succession of vetoes.
**Tech stocks have also largely fallen in premarket trading
** Last year BTC gained ~60%
(Reporting by Anisha Sircar in Bengaluru) ((Anisha.Sircar@thomsonreuters.com ;))
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