East Asian crypto companies take a battering as Bitcoin price drops below $90,000

Group 1: Market Impact on East Asian Companies - Bitcoin has dropped 12% over the last week, negatively affecting shares of East Asian companies linked to crypto, which have seen a decline of approximately 10% in share prices over the past five days [1] - Bitcoin Japan, a rebranded firm formerly known as Marusho Hotta, has experienced a nearly 60% drop in share prices following its acquisition by Bakkt [2] - Gumi, a video game developer that adopted a Bitcoin-buying business model, has seen its share prices decrease by over 12.5% since the end of last week [3] Group 2: Performance of Major Companies - SBI Holdings, a partner of Ripple and owner of SBI VC Trade, has faced a 13.6% decline in share prices over the past five days [3] - Monex Group, operator of the Coincheck crypto exchange, recorded a 5% fall in share prices [4] - Rakuten Group, which operates the Rakuten Wallet exchange, has seen its share prices drop by over 12% in the same period [4] Group 3: South Korean Market Dynamics - No South Korean crypto firm has gone public yet, although Bithumb plans to debut on NASDAQ next year; T Scientific, which holds shares in Bithumb, saw a gradual decline in share prices before a slight recovery [5] - Hanwha Investment & Securities, which owns shares in Dunamu, has experienced a nearly 10% drop in share prices, which is almost double the 5.21% decline of the KOSPI index [6] - Woori Technology Investment, another investor in Dunamu, has lost over 12% of its share value in the past five days [6]