Cryptocurrencies
Ether Tumbles in Crypto Selloff as Goldman Slows Trading Plans
- Bitcoin falls toward $6,900; related stocks also sell off
- Rout in token prices this year slows Wall Street interest
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A fresh sign that the financial industry’s love affair with cryptocurrencies is cooling pummeled the largest tokens.
Ether sank as much as 15 percent and Bitcoin fell almost 7 percent to a three-week low amid a report that Goldman Sachs Group Inc. is pulling back on near-term plans to set up a crypto trading desk. Litecoin and Ripple’s XRP followed suit, and U.S. stocks with exposure to the digital-coin market also slumped.