Bitcoin futures trade gone wrong leaves counterparties holding the bag

|About: Bitcoin USD (BTC-USD)|By:, SA News Editor

A long position with $146M notional value in Bitcoin futures (BTC-USD) on Hong Kong's OKEx exchange was forced to be liquidated earlier this week.

With the price of the crypto continuing to fall, the trader and the exchange were unable to cover the loss. Under the exchange's "socialized clawback" policy, those traders with unrealized gains this week were forced to give up some of their profits.

Clawbacks aren't unheard of at this exchange, but the size of this one has people talking.

Bitcoin this morning is down another 2.5% to $7,350.

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