News Summary

• A sudden wave of selling wiped out nearly $52 million in crypto traders’ leveraged bets on chip stocks in 10 minutes on Saturday.
• About $51.6 million in positions tied to chip stocks and semiconductor funds were force-closed between 21:22 and 21:32 UTC.
• With the stock market shut, there was no real share price for these contracts to follow, so traders were reacting only to each other.
• Those quotes return when u.s. markets open Monday, which will show how far Saturday’s prices strayed from where the shares actually trade.