New York Stock Market Cryptocurrency Platform Stocks Lose $400 Billion in One Day

Cryptocurrency trading platform Bullish (NYSE: BLSH) plunged 9.09% on the New York Stock Exchange on the 16th, closing at $26. Trading volume was approximately 1.36 million shares, and its market capitalization stood at about $3.9 billion (roughly KRW 5 trillion).

In a single day, it wiped out roughly $330 million in market value—equivalent to about KRW 400 billion.

At the same time, as Bitcoin slid below $60,000 and ETF outflows continued, Bullish—along with MSTR and BITO—has been identified as among the stocks most sensitive to the crypto downturn. (marketbeat.com)

Bullish is an institution-focused global digital-asset trading infrastructure firm operating the Bullish Exchange. It holds licenses in Germany, Hong Kong, Gibraltar and New York, and counts CoinDesk as a subsidiary. (en.wikipedia.org) Listed on the NYSE in August 2025, it raised about $1.1 billion in its IPO, achieving a post-IPO valuation of over $5 billion. Peter Thiel and former NYSE president Tom Farley are known as major backers. (everyticker.com)