Fartcoin price crashes 50% on failed bet

Fartcoin experienced a dramatic 50% price collapse following a substantial $145 million manipulation attempt that backfired. The sheer scale of the liquidation triggered Hyperliquid's auto-deleveraging system. This mechanism was forced to close out profitable short positions to maintain system stability and avoid accumulating bad debt. The event highlights the extreme volatility and risks associated with large-scale speculative trading in the cryptocurrency market.