bitget $token cex dex arb

• bitget opened TOKEN (a FLOKI derivative token) to trade before it was launched onchain. Without onchain price data, bitget "guesstimated" the opening price wayyy too low, price in the cex pumped 100x, there is a big price gap between bitget and onchain, bitget disabled TOKEN withdrawal to stop arb trade, bitget doesn't have enough TOKEN to make everyone whole, essentially bitget was short TOKEN, ppl are speculating that bitget need to buy TOKEN on the dex to make everyone whole
• similar thing has happened with gala on huobi before, it would be interesting to watch how the exchange deals with this
• on twitter ppl are saying bitget has a $10m hole on the balance sheet due to this
• currently TOKEN is trading $0.0066 on bitget, $0.021 on dex

https://www.bitget.com/spot/TOKENUSDT

https://dexscreener.com/ethereum/0xc7e6b676bfc73ae40bcc4577f22aab1682c691c6