The post WBTC Flash Crash on Binance, Price Plunges to $5,200 appeared first on Coinpedia Fintech News
On November 23, 2024, Wrapped Bitcoin (WBTC) experienced a sudden flash crash on Binance, briefly plunging to $5,200 due to an electronic trading error. The crash was isolated to Binance and did not affect WBTC’s price on other exchanges. Trading quickly stabilized, with WBTC rebounding to its normal levels near $97K. This incident follows Coinbase’s announcement to delist WBTC by December 19, 2024, amid criticism for promoting its own WBTC product. The controversy, tied to changes in WBTC custody and the involvement of Tron’s Justin Sun, has fueled further debate in the crypto community.