Chip-Stock Bets Lost $52 Million in 10 Minutes While Wall Street Was Closed
Key Highlights: Aggressive off-hours selling of synthetic chip contracts originated on Binance before cascading across Hyperliquid and Trade XYZ within seconds. Trading firm Tread.fi’s chief executive, David Jeong, reported that the initial wave triggered millions in volume for synthetic contracts tracking SanDisk and Micron. Without underlying equity price feeds during the weekend closure, platform mechanisms ...