Didn’t that happen with Mt. Gox back in 2013?
Discussion
Yes. BTC on Mt. Gox was significantly higher than other exchanges for quite a long time (months?) just before they went under. The cause was supposedly issues with fiat banking withdrawals causing people to have to buy BTC to get off the exchange.
This might be related to Silvergate or Silicon valley bank failures, possibly indirectly through USDC or other stable coins that have been caught up in it. I would expect the price to be higher if Gemini was having banking issues, though. Maybe this indicates that the issue is actually at other exchanges ( Coinbase ) and Gemini is actually fine or maybe the stable coin issues make it behave differently some how? Either way, things are going to get interesting.
