Traders get short end of the stick with Bitcoin whale’s disastrous losing bet

Traders get short end of the stick with Bitcoin whale’s disastrous losing bet
фото показано с : bitcoints.com

2018-8-4 22:08

An “enormous” losing bet on bitcoin last week left one futures trader unable to cover the loss and other traders on a Hong Kong-based exchange to foot the bill.
Because of the sheer size of the order and bitcoin’s price slump the exchange said it couldn’t cover the loss.
As a result, it implemented a clawback policy or what it called a “societal risk management mechanism.”
“That exchange shouldn’t have let someone put that size of a position,” said Brian Kelly, CEO and founder of BKCM.
The cryptocurrency is down roughly 10 percent this week and has dropped roughly 50 percent this year.

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Источник: bitcoints.com

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