Crypto sell-off deepens

US listed shares of crypto-linked companies slumped as bitcoin fell more than 15% on Monday, after weak economic data last week triggered fears of a recession and set off a frenzied selling of risky assets. The plunge marks a stunning reversal for the sector that until recently was riding a wave of optimism sparked by the approval of exchange-traded funds (ETFs) tied to the spot prices of bitcoin and ether, the two biggest cryptocurrencies. Republican presidential candidate Donald Trump's pro-crypto speech at a bitcoin conference last month also bolstered sentiment, but data showing higher unemployment and weak manufacturing activity squeezed risky assets.