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El Salvador removes BTC price feed from Chivo app to crack down on arbitrage scalpers
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The Salvadoran government has moved to prevent users of its Chivo digital wallet from gaming the app’s price freeze feature to glean risk-free profits through arbitrage.
On Oct. 19, Chivo’s Twitter account announced that wallet users will not be able to see the reference price provided for trades executed using the price freeze feature — which allows traders to retain the Bitcoin (BTC) price quoted by the app for up to one minute.
Chivo tweeted that opportunistic traders have been using the price freeze feature to scalp for arbitrage across other cryptocurrency trading platforms globally during periods of significant price volatility for Bitcoin. The frozen price feature gave traders an opportunity to take advantage of price gaps in other
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