$460 MILLION WHALE LIQUIDATED ON OKEX EXCHANGE BUT ORDER WASN'T FILLED
Source
The top trader on Okex accumulated a 460$ millon long position on BTCUSD futures, and was liquidated this week. The problem here is that the order was not filled. This means that there is a pending $460 million settlement. Okex's insurance covers only 10 BTC while the sum that would cover this is 950 BTC.
Read more
So what happens now?
Well nothing is set in stone. A possible scenario is that the debt gets socialized. This means we could be seeing btc futures contract traders facing forced liquidation, which basically means that traders would have to give up profits.
Coins mentioned in post:
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit