Crypto stocks dropped in morning trading.
MicroStrategy slid more than 7%; Marathon Digital fell 5%; Riot Blockchain fell over 3%; Coinbase slid 2%.
U.S. cryptocurrency lender BlockFi said on Monday it had filed for Chapter 11 bankruptcy protection along with eight of its affiliates, in the latest casualty since FTX collapsed earlier this month triggering instability in the crypto market.
New Jersey-based BlockFi had earlier paused withdrawals from its platform and acknowledged it had "significant exposure" to FTX, and its associated entities.
The move comes more than a week after FTX filed for U.S. bankruptcy protection and its founder Sam Bankman-Fried resigned as chief executive.
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