It's worse than even that. Because top-tier hedge funds and investment banks can afford the genuinely insane fees to put their gear as physically close to the e

It's worse than even that. Because top-tier hedge funds and investment banks can afford the genuinely insane fees to put their gear as physically close to the exchange as possible they can effectively front-run everyone else including other algo systems, which in situations like this it is particularly advantageous. The nature of the inequal playing field, combined with warring algos mean there is now no real connection whatsoever between an instrument's price and reality below a certain time period. Insane doesn't begin to cover what we've created and the power it wields.