The slide began at 22:40 UTC, and within two minutes prices fell to $8,900, the lowest since early 2020, according to data from charting platform TradingView. The recovery was equally quick, with prices rebounding to $67,000 by 22:50 UTC. Throughout the boom-bust episode on BitMEX, BTC’s global average price was around $67,400. Some observers on social media platform X say that selling by a so-called whale – or large holder – catalyzed the crash.
Prime brokers act as intermediaries between institutional investors and the market, offering services such as custody, trade execution, risk management and lending to attract customers by providing a comprehensive end-to-end service similar to their counterparts in traditional finance. After Binance pleaded guilty to breaking sanctions and money-transmitting laws in the U.S.
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