Xiang Guangda, the founder of Tsingshan Holding Group known as "Big Shot," triggered a historic 2022 nickel market crisis after amassing a massive short position that caused a $10 billion loss when prices spiked. The London Metal Exchange (LME) intervened by canceling $12 billion in trades to prevent a total market collapse, eventually leading to a £9.2 million fine for the LME, as reported by The Guardian .
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Xiang Guangda, the founder of Tsingshan Holding Group known as "Big Shot," triggered a historic 2022 nickel market crisis after amassing a massive short position that caused a $10 billion loss when prices spiked. The London Metal Exchange (LME) intervened by canceling $12 billion in trades to prevent a total market collapse, eventually leading to a £9.2 million fine for the LME, as reported by The Guardian .
