Bitcoin flash crash on May 19, 2021 : what did really happen on Binance? / Tim Baumgartner, Andre Guettler ; editor: Halle Institute for Economic Research (IWH) - Member of the Leibniz Association

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cbs.date.changed2022-11-14
cbs.date.creation2022-11-11
cbs.picatypeOa
cbs.publication.displayformHalle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, [10. November 2022]
dc.contributor.authorBaumgartner, Tim
dc.contributor.authorGüttler, André
dc.contributor.otherLeibniz-Institut für Wirtschaftsforschung Halle
dc.date.accessioned2025-05-30T19:34:19Z
dc.date.issued2022
dc.description.abstractBitcoin plunged by 30% on May 19, 2021. We examine the outage the largest crypto exchange Binance experienced during the crash, when it halted trading for retail clients and stopped providing transaction data. We find evidence that Binance back-filled these missing transactions with data that does not conform to Benford‘s Law. The Bitcoin futures price difference between Binance and other exchanges was seven times larger during the crash period compared to a prior reference period. Data manipulation is a plausible explanation for our findings. These actions are in line with Binance aiming to limit losses for its futures-related insurance fund.de
dc.format.extent1 Online-Ressource (III, 63 Seiten, 3,49 MB) : Diagramme
dc.genrebook
dc.identifier.otherkxp: 1822049504
dc.identifier.ppn1822049504
dc.identifier.urihttps://epflicht.bibliothek.uni-halle.de/handle/123456789/11931
dc.identifier.urnurn:nbn:de:gbv:3:2-922372
dc.identifier.vl-id3254113
dc.language.isoeng
dc.publisherHalle Institute for Economic Research (IWH) - Member of the Leibniz Association
dc.relation.ispartofseriesIWH-Diskussionspapiere ; 2022, no. 25 (November 2022) ppn:837399270
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectBenford's law
dc.subjectBinance
dc.subjectBitcoin
dc.subjectcryptocurrency
dc.subjectcrypto exchange
dc.subjectderivatives
dc.subjectextreme volatility
dc.subjectfraud
dc.subjectmarket crash
dc.subjecttrading outage
dc.subject.ddc330
dc.titleBitcoin flash crash on May 19, 2021 : what did really happen on Binance? / Tim Baumgartner, Andre Guettler ; editor: Halle Institute for Economic Research (IWH) - Member of the Leibniz Association
dc.typeBook
dspace.entity.typeMonograph
local.accessrights.itemAnonymous
local.openaccesstrue

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Bitcoin flash crash on May 19, 2021
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