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Cryptocurrency and Blockchain – Industry News – (10.25.19 – 11.01.19)

· Deribit experienced a flash crash at 21:00 UTC on October 31st, 2019 causing the price of its bitcoin perpetual swap contract to drop 15%. Index calculation issues and the failure to remove incorrect outlier prices were cited as the reasons for the malfunction.

· COO of Deribit, Marius Jansen has since said the platform will be reimbursing traders that have been affected by the error. Total cost of compensation is estimated to be around U.S $1.3 million.

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