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“Within the unstable week of June when BTC fell precipitously from 30k to 20k, unhedged positions in these accounts chalked up vital losses, straight resulting in pressured liquidation of a number of buying and selling accounts,” the restructuring doc, first reported by The Block, reads. “As a consequence of these huge losses, lending division and buying and selling division had been unable to satisfy margin calls from counterparties, leading to fairness depletion.”
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