$52 million in leveraged chip bets liquidated in 10 minutes on Saturday

Nearly $52 million in leveraged bets tied to chip stocks and semiconductor funds were liquidated in 10 minutes on Saturday, even as Wall Street was closed. The sell-off began on Binance and spread to Hyperliquid within seconds, with traders betting on higher prices accounting for about $38 million of the liquidations. About $51.6 million in positions were force-closed between 21:22 and 21:32 UTC, according to CoinGlass data. SOXL, a fund that triples daily moves in chip shares, suffered the biggest loss at about $12.7 million. SanDisk and SK Hynix contracts followed at about $10.8 million each. The contracts trade around the clock on crypto exchanges, so weekend prices were driven by crypto traders rather than actual share prices, providing a benchmark when U.S. markets reopen Monday.