Perpetual futures on the South Korean chipmaker's American depositary receipts plunged 20% in one minute before quickly rebounding above $1,000.
- Perpetual futures tied to SK Hynix on the Hyperliquid exchange plunged about 20% in one minute before quickly rebounding above $1,000.
- The flash crash in the USDC-denominated contract preceded a sharp selloff in South Korea, where SK Hynix shares fell 14% and the Kospi index dropped 11%.
- The episode comes amid thin overnight crypto liquidity and broader weakness in AI-related stocks, including a 5% drop in Nvidia after a report on its potential $250 billion financial backstop for an OpenAI-linked data-center project.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Cathie Wood says smart investors need to start watching where AI agents spend money
U.S. added just 29,000 jobs in September, with unemployment rate rising to 4.2%
Crypto traders are in risk-on mode as bitcoin dominance nears return to 60%
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