Expected loss of $10.84 million: the largest short seller of CXMT begins to cut losses after two months of shorting

Odaily reports: According to on-chain analyst Ember Monitoring, the largest short seller of CXMT (0xf292...1244) shorted 2.9 million shares at $6.5 on the day before CXMT went public at the end of July, worth $18.85 million. After CXMT began trading, this address remained trapped for two consecutive months and paid $5.24 million in funding fees.

This address is currently planning to close 2 million shares, worth $17.04 million, through TWAP time-weighted order execution. This operation is expected to result in a loss of $10.84 million.