Chip-stock bets lost $52 million in 10 minutes with Wall Street shut
A 10-minute flush hit round-the-clock chip-stock contracts while U.S. markets were shut, leaving traders with no real share price to lean on.
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Summary
- Nearly $52 million in leveraged bets tied to chip stocks and semiconductor funds were liquidated in 10 minutes Saturday, even as Wall Street was closed.
- The sell-off began on Binance and spread within seconds to Hyperliquid, with traders betting on higher prices accounting for about $38 million of the liquidations.
- Because the contracts trade around the clock, weekend prices were driven by crypto traders rather than actual share prices, which will provide a benchmark when U.S. markets reopen Monday.
- Nearly $52 million in leveraged bets tied to chip stocks and semiconductor funds were liquidated in 10 minutes Saturday, even as Wall Street was closed.
- The sell-off began on Binance and spread within seconds to Hyperliquid, with traders betting on higher prices accounting for about $38 million of the liquidations.
- Because the contracts trade around the clock, weekend prices were driven by crypto traders rather than actual share prices, which will provide a benchmark when U.S. markets reopen Monday.
