Bitcoin rival ethereum dropped Monday despite a major exchange’s efforts to shore up confidence by announcing a credit for customers who lost money during last week’s flash crash.
Ethereum, also known as ether, traded 11 percent lower Monday morning, near $268, according to CoinDesk.
Last Wednesday, ethereum briefly plunged in a flash crash from above $300 to 10 cents on Coinbase’s GDAX exchange. On Friday, the exchange said it would credit customers who “experienced a margin call or stop loss order” on GDAX during the flash crash.
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