Crypto’s big-money backers hit hard as stock premiums plunge
Yahoo Finance·2025-11-05 23:09
(Bloomberg) — The trade was simple — and worked until it didn’t. Wrap crypto in a stock ticker. Call it innovation. Ride the wave. This week, with the crypto complex buckling alongside a tech-stock selloff, that wave is crashing. And some of its biggest promoters — including President Donald Trump ally David Bailey, Ethereum bull Tom Lee and Bitcoin evangelist Michael Saylor — must now deal with the fallout. Bitcoin’s slide below $100,000 for the first time since June has ratcheted up pressure on shares ...