The expiration of the lock-up period triggered a sell-off, causing the stock price of a US Bitcoin company to plummet by more than 50% in 30 minutes.

Shares of cryptocurrency mining company American Bitcoin Corp. plummeted more than 50% in 30 minutes on December 3 after a sell-off triggered by the unlocking of a private placement. The decline later narrowed to 35%, closing at $2.33.