Gemini, the cryptocurrency exchange founded by the Winklevoss twins, issued an apology after sending a false alert stating Bitcoin had surged past $100,000. The exchange explained the incident, saying, “This message was sent due to an error in our notification system,” adding lightheartedly on X, “Sorry for the false alarm–we’ll get there soon!” The alert, mistakenly sent on November 13, claimed Bitcoin had hit $110,000, while the actual price had climbed to a record high above $93,000, spurred by renewed confidence in crypto under President-elect Donald Trump.
User Reactions and Speculation
Following the false alert, users on X speculated about the cause, suggesting a possible system glitch or that an intern may have accidentally triggered the notification. Market analysts believe Bitcoin’s recent rally—dubbed the “Trump trade”—reflects investor optimism for favorable crypto policies from the incoming administration.
Price Alerts and Technical Glitches: A Recurring Issue
This incident highlights a common challenge faced by cryptocurrency exchanges: technical errors in price alerts and data displays. Previous issues in the industry include misreported prices by Coinbase and Crypto.com in 2021 due to erroneous data from CoinMarketCap, and Binance’s recent display error where XRP appeared at an inflated $5,791.
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