Machi Huang Suffers $17.5M Loss on ETH Long After Price Drop

The evidence strongly supports the core components of the statement. The most relevant sources directly confirm that Machi Huang's leveraged Ethereum (ETH) long position was partially liquidated and that he was actively cutting his losses. A liquidation is a forced sale that realizes a loss, unequivocally confirming that a loss was incurred on his ETH long position. Another source confirms the position was substantial, valued at $50.44 million with 25x leverage, making a multi-million dollar loss not only possible but highly probable in the event of a market decline sufficient to trigger liquidation.While none of the provided summaries explicitly state the loss amount was exactly $17.5 million, this figure is plausible given the large size and high leverage of the position. There are no direct contradictions to the claim. One source mentions a much smaller past loss of $480,000, but this refers to a different event and does not invalidate a separate, larger loss. Another source about a loss on a UNI position is irrelevant. The mention of a 'floating loss' in another source is also consistent, as this would have been the state of the position before the liquidation and loss-cutting actions occurred, turning an unrealized loss into a realized one. In summary, the key events—a loss incurred on an ETH long position by Machi Huang—are well-substantiated. The lack of explicit confirmation for the precise $17.5 million figure is the only point of uncertainty, but the context makes the amount credible. Therefore, the statement is assessed as likely true.