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Deribit Exchange Causes Flash Crash, Compensates $1.3M to Traders

Published 11/01/2019, 04:44 AM
Updated 11/01/2019, 06:01 AM
 Deribit Exchange Causes Flash Crash, Compensates $1.3M to Traders
BTC/USD
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ETH/USD
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Deribit, a newly launched derivative exchange, saw a one-off event that wiped out Bitcoin (BTC), flash-crashing the price to $7,700 while filling orders all the way down. The sudden price anomaly saw the price return immediately to above $9,000.

Deribit has announced it will cover the losses from its own funds, not resorting to the insurance fund for derivatives:

https://twitter.com/DeribitExchange/status/1190047067365953536

A flash crash may erase the value of any asset to almost zero, and has happened for BTC and Ethereum (ETH) a few times in history. B...

This article appeared first on Cryptovest

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