Bitcoin price crashed thanks bug

Bloomberg. "US Probes Binance Over Token That Is Now World’s Fifth Largest." Bitcoin crashed binanceus to bug Bitcoin’s price momentarily crashed 87% and then recovered to its original value within a minute, but the other crypto trading sites remained unaffected.

But you know what? In this specific case, I’m inclined to believe them. First of all, just a fuckload of money has already left Silvergate. But second, Silvergate was a pass-through bank for crypto; it didn’t hold onto reserves, and it didn’t pay interest. The problem here is less that some exchange or stablecoin is going to suffer a massive loss of customer money and more that it is now even harder for crypto companies to get banking. Recommended for you: With bitcoin already down ~15% from its all-time high, Elon Musk’s tweet announcing Tesla would stop accepting bitcoin for purchases helped send the cryptocurrency down more than 50% from the top, dipping into the $30,000 price area.

A quick 3min read about today's crypto news! Why is Bitcoin going up today? The platform facilitates fiat-to-crypto purchases as well as crypto-to-crypto trading. Its fees are generally lower than other big exchanges, but it doesn’t offer quite as many cryptocurrencies as some other exchanges on this list i.e., they only offer around 40 coins.

According to a Binance.US spokesperson, the crash was due to an issue with a trading algorithm being run by one "institutional trader," which may indicate an investment fund of some sort.  DAILY BTT UPDATE CRYPTO NEWS BITCOIN ETH BitTorrent updateWOW BITTORRENT (BTT) HOLDERS NEED TO WATCH THIS! Coinbase CEO Brian Armstrong meanwhile hit out at the Securities and Exchange Commission (SEC) for failing to create regulatory clarity, due to which 95% of trading activity had gone offshore.