TheGuardian.com said that companies are "scrabbling to jump off the bitcoin ship before it sinks." Former bitcoin companies like Circle and BitPay have realigned themselves from bitcoin, getting rid of the "bit" to the more general "blockchain."

CEO Anthony Watson said that Bitreserve changed its name to "Uphold" explaining, “When we say bit, we don’t mean bitcoin, we never did. We meant bit as is bits and bytes."