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New Poloniex Exec Team Seeks to Make Things Right With Traders Who Lost Money From $CLAM Liquidation

Poloniex's new leadership team is looking to make things right with clients who lost millions of dollars from a liquidation of clams in its market.


No, not steamed clams, crypto CLAMs: a digital asset that's on certain offshore crypto exchanges. On May 26 of 2019, $CLAM collapsed more than two-thirds of its value during the course of the trading day, resulting in the margin lending pool incurring a more than $13 million USD loss in today's price of bitcoin.

Now, Poloniex — which spun off from Circle last year — said it will be paying back clients for the losses incurred from the flash crash. Still, some clients will not be paid back the losses for all clients. Read More...

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