Tokenized chip stock bets see $800M liquidations amid sector sell-off

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Approximately $800 million in leveraged trading positions were liquidated over a 24-hour period. The majority, 86%, of these wiped-out positions were bullish bets. A significant portion of the losses involved tokenized contracts tied to chip stocks, traded on cryptocurrency exchanges. The liquidations occurred amid a broader downturn in Asia's semiconductor sector.

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