$416 Million BTC Futures Trade Loss on OKEx to cost Counterparts – Bitcoints

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Published on August 3rd, 2018 | by bitcoin

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$416 Million BTC Futures Trade Loss on OKEx to cost Counterparts

$416 Million BTC Futures Trade Loss on OKEx to cost CounterpartsInstead, it operates using a so-called “socialized claw-back” policy for cases where a trade shortfall is incurred.
In this instance, those with unrealized gains on their short positions this week are set to lose 18 percent of their profits to foot the bill, as Bloomberg notes.
As of press time, OKEx has not responded to Cointelegraph’s request for comment.
As reported in July, OKEx is currently collaborating with the Malta Stock Exchange to create a new institutional grade security tokens trading platform.
Bitcoin (BTC) is currently trading at $7,481, down around 1 percent on the day and 8.5 percent on the week.

Source: Cointelegraph.com

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