Bitcoin Slump Erodes Fortunes of Would-Be Miners in Thailand
- Jasmine Technology’s 7 top investors lose some $1.7 billion
- Telecom-turned-crypto firm hit by global plunge, regulators
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For Thailand’s market authorities, the rout in Bitcoin has been one of the few tools to cool down the once-unstoppable Jasmine Technology Solution Pcl.
The telecom-turned-crypto company has lost more than a third of its value in the past month, cutting its market capitalization to 260 billion baht ($7.6 billion). That tumble also pared the wealth of its seven biggest individual shareholders, who had enjoyed earlier gains after the firm unveiled a plan in July to expand into Bitcoin mining.