BitMEX Investigates Flash Crash in Bitcoin Trading
By
Chiyoko Tanaka
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
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.