Bitcoin Crashed to $5,402 in Error on Network Backed by Quants

(Bloomberg) — A cryptocurrency data network run by some of Wall Street’s biggest players showed a roughly 90% plunge in Bitcoin on Monday, a glitch that didn’t show up on other platforms.

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The platform, called Pyth, is heralded by its supporters as an industrial-grade source for pricing information on assets like stocks and cryptocurrencies. Its contributors include finance giants like Jump Trading Group, DRW and FTX.

On Monday, it briefly reported Bitcoin’s price…


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