Whale "0x049" Closes Leveraged Positions on ETH and BTC with $598,369 Loss

GateNews

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2026-02-20 07:29:06

ETH-5,17%

BTC-3,68%

USDC0,03%

Gate News bot message, The trader known as “0x049” has fully exited long positions in $ETH and $BTC, recording a loss of $598,369. The total loss for this whale reaches $510,560. Previously, according to Onchain Lens on February 18, 2026, whale “0x049” had deposited $1.765M in $USDC into HyperLiquid and opened $ETH and $BTC long positions with 20x leverage, holding 9,411.33 $ETH ($18.59M) and 260.11 $BTC ($17.49M).

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GameStop converts $368 million worth of Bitcoin into an options income strategy

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GameStop disclosed that approximately 4,710 bitcoins were transferred to a certain CEX not for sale, but as collateral to participate in a covered call options strategy to earn premium income. This strategy means it no longer directly holds Bitcoin but records it as "accounts receivable" and bears counterparty risk. The financial report shows that the related accounts receivable are valued at about $368.3 million, with an unrealized loss of $59.7 million.

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