Citadel-Backed Exchange Sparks Frenzy in Bitcoin-Offshoot Token

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A collection of bitcoin, litecoin and ethereum tokens.

Photographer: Chris Ratcliffe/Bloomberg

The opening of a new crypto exchange backed by Citadel Securities has unleashed a speculative mania in Bitcoin Cash, an offshoot of the original digital token. 

Bitcoin Cash soared 25% to $304 on Friday, taking gains in June to around 170%. The coin is among just four — including bellwethers Bitcoin and Ether — selected to trade on EDX Markets, the institutional-only platform that went live this month.

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