[Changxin Technology Short Seller Cuts Losses, Estimated Loss Over 10 Million] Changxin Technology (CXMT)'s biggest short seller held their position for two months, but the price never dropped. They finally couldn't hold on and started cutting losses. The estimated loss is $10.84 million, with $5.24 million just in funding fees. ◎ On the day before Changxin Technology (CXMT) went public at the end of July, they shorted 2.9 million shares at $6.5 each ($18.85 million). After CXMT opened, they were immediately trapped and have been stuck for two months, all while paying high funding fees. ◎ Today, they finally gave in and started cutting losses: they are now using the TWAP (Time-Weighted Average Price) method to plan the closing of 2 million short shares ($17.04 million). https://(hypurrscan.io)/address/0xf2925cb0779a741fe33037cbd88fca5382e41244 perps -------------------------------------------------------------------------- Bitget: Join and you're a VIP! Crypto, U.S. stocks, CFDs—get ahead globally with one platform!