BitMine's Ethereum holdings may become the fifth largest proprietary trading loss in financial history

According to The Kobeissi Letter, the unrealized losses of the Ethereum treasury company BitMine have reached $6.6 billion. If these unrealized losses are realized, it will become the fifth largest proprietary trading loss in the history of global financial markets.

In 2021, Archegos Capital Management incurred losses of approximately $10 billion, which was about 66% of the company's size, making it the largest loss in history.