Crypto shares sank in premarket trading. Bakkt Holdings, Riot Platforms, TeraWulf down around 4%; MARA Holdings, CleanSpark down about 3%; Strategy, Coinbase down over 2%.

Bitcoin and other cryptocurrencies sank after Israel launched airstrikes on Iran in a major escalation. The largest digital asset slid as much as 3% on Friday to dip below $103,000 before paring losses. Second-ranked token Ether had at one point shed about 7.6% of its value.