Big Brother Ma Ji's leverage game: Where does the "endless" money come from?Author: Clow
Last night, the crypto market once again witnessed a series of heart-stopping liquidations.
Renowned investor Huang Licheng (known as "Brother Maji") had his long positions on the decentralized derivatives platform Hyperliquid liquidated up to 10 times in a short period. His account balance plummeted from previously $1.3 million to only $53,178 — less than 5% of the original amount.
This is the cruelest scene of high-leverage trading: over $1.25 million in funds vanished in a matter of hours.
Even more ironic, just a few days ago, he injected $254,700 USDC into Hyperliquid, increasing his ETH long position to 11,100 ETH, worth over $36 million. Yet, just a few days later, this newly injected capital, along with previous reserves, was crushed again in the high-leverage meat grinder.
If the story ends here,
金色财经_·2025-12-16 07:25