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Gate platform delists LAUSDT Perptual Futures and executes liquidation operation
Gate News bot message, Gate exchange announces the immediate delisting of LAUSDT Perptual Futures and suspends related trading activities. This decision is due to the contract mark price severely deviating from the normal market level.
According to the announcement from the Gate platform, all open orders have been liquidated at market price. Gate promises to bear all negative balance losses caused by liquidation, and users do not need to make additional margin calls.
The incident was caused by an abnormal fluctuation in the price of Lagrange (LA) around 20:00, where the price of LA Perptual Futures on the Gate platform sharply rose from below 1 USD to around 27 USD, and then quickly fell back.
Source: wublock123
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