A cryptocurrency data network that is controlled and run by a network of some big US finance industry players
lost its shit showed a massive plunge in BTC.
- Displayed the price of the coin dropping to $5402
- a roughly 90% plunge
This pricing did not show up on other platforms (because it didn’t happen).
Bloomberg (link, may be gated) report further:
- The platform, called Pyth
- heralded by its supporters as an industrial-grade source for pricing information on assets like stocks and cryptocurrencies
- “Engineers are continuing to investigate the cause and a full report is in the works,” Pyth tweeted
BTC has not had a banner day, but it hasn’t collapsed either …