Binance US explained the reason for the massive volatility in Bitcoin that occurred earlier today. According to the exchange, a vulnerability in the trading algorithm has caused such a situation to arise.
In a statement to Bloomberg, the spokesperson of the stock exchange stated that the problem has been resolved.
Bitcoin was at $8,200, down 87% on Binance US today. This development led to question marks.
The leading crypto is trading at $62,720 at the time of writing, according to CoinMarketCap data.