2023-08-22 07:54:21
Breaking News: Andrew Kang's Aggressive Leverage Strategy Results in $432K Losses in 1 Day
After the recent market crash on Aug 18, investor Andrew Kang took daring long positions on $BTC, $ETH, and $ARB.
But his aggressive use of up to 100x leverage led to a catastrophic outcome
Despite the potential gains, Kang's leveraged positions faced 14 liquidations within a single day
Each position got wiped out due to plummeting prices, resulting in a staggering loss of ~$432K
This incident serves as a stark reminder of the risks associated with excessive leverage in volatile markets.
It's a cautionary tale for all traders
While leverage can amplify profits, it can equally magnify losses, as Kang's experience painfully demonstrates.
Learning from Kang's situation, it's clear that proper risk management is essential when trading with leverage.
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