Chainlink could solve today’s NYSE stock market glitch as Berkshire Hathaway appears down 99%

Trading on the New York Stock Exchange (NYSE) was abruptly halted today after Berkshire Hathaway’s Class A shares experienced a dramatic 99.97% drop in value. The equity last traded at $185.10, down from $627,214.90. The halt, coded as M, was triggered due to volatility, and the cause of the sudden decline remains unclear.
In a related incident, a glitch at the NYSE operator caused volatility trading halts in about a dozen companies other companies, as reported by Bloomberg. This follows a recent pattern of technical issues affecting major exchanges. For instance, on March 18, the Nasdaq faced a three-hour disruption in premarket trading due to connectivity issues with its matching engine, as reported by the Bangkok Post.
The DTCC is currently trialing using blockchain technology with Chainlink for faster settlements of mutual funds, but it seems the stock market may need blockchain more than it knew. Chainlink’s decentralized oracle network could address such issues by providing accurate and reliable data feeds. Chainlink utilizes multiple independent data providers to ensure data accuracy and tamper-proofing, reducing the risk of single points of failure common in centralized systems. This decentralized approach enhances security and reliability, which is crucial for trading systems where timely and accurate data is essential.
Chainlink’s oracles aggregate data from various sources and use consensus mechanisms to validate information before it is fed into the blockchain. This process ensures data integrity, preventing manipulation or corruption. Additionally, Chainlink can provide real-time data verification, quickly identifying and correcting discrepancies to prevent erroneous trades and price swings.
Smart contracts supported by Chainlink can automate responses to certain conditions, such as significant stock price deviations, by halting trading or triggering alerts. This automation allows immediate action to investigate and resolve issues, enhancing market stability.
By leveraging Chainlink’s decentralized oracle network, stock exchanges can improve transparency and trust among market participants. The decentralized nature of the data feeds ensures no single entity controls the data, reducing manipulation risks and increasing market confidence.
Ultimately, blockchain technology, specifically Chainlink’s decentralized, tamper-proof data feeds and real-time verification capabilities, could significantly mitigate the risk of glitches and erroneous trades in stock exchanges, enhancing the overall reliability and stability of the trading environment.
Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.

Join our X community for real-time crypto news and expert insights.
The attorney general’s office said the settlement is the largest income tax fraud recovery in its history.
Trading activities for the crypto ETPs were surprisingly subdued, dropping by around 40% last week.
Experts have predicted that the rising demand for Ethereum and Bitcoin could trigger a supply crunch.
The Biden administration said the resolution would have hampered the SEC’s ability to set guardrails and address issues.
DTCC and Chainlink collaborate on a Smart NAV pilot, enabling blockchain innovations in mutual fund services.
Chainlink’s Transporter and native ETH transfer features set to boost multichain liquidity.
Metis hopes to amplify its market presence through the integration of Chainlink’s cross-chain technology.
Market observers have urged the Bitcoin ETF issuers to embrace industry-standard transparency measures.
CryptoSlate’s latest market report dives deep into the meteoric rise of BlackRock’s Bitcoin ETF to understand how it positioned itself at the forefront of the crypto market.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.