BitMEX Investigates Flash Crash in Bitcoin Trading

Crypto exchange BitMEX is conducting an investigation into unusual trading activity that caused a flash crash in Bitcoin against Tether’s USDT stablecoin on its platform. The incident, which occurred late Monday, saw the price of Bitcoin plummet to as low as $8,900 on BitMEX, while other platforms maintained trading levels above $66,000. BitMEX emphasized that the price swiftly recovered and has since followed the broader market.