Chip-stock bets lost $52 million in 10 minutes with Wall Street shut
Summary
About $51.6 million in leveraged crypto perpetual futures tied to chip stocks and semiconductor funds were liquidated in a 10-minute selloff on Saturday, with roughly $38 million from bullish bets. SOXL saw the largest liquidations, followed by SanDisk and SK Hynix contracts. Trading began on Binance and quickly spread to Hyperliquid-listed contracts. Because U.S. markets were closed, there were no live share prices anchoring the contracts; traders largely reacted to one another. The contracts’ accuracy could be assessed when U.S. markets reopened Monday.
