Flash crash, limit down! What exactly happened to Gate.io?

On June 25, Jinsan Data reported that in the afternoon of June 25, Sailis hit the limit down, then opened the limit down again, but the closing auction still ended with a limit down and a trading volume of over 9.5 billion yuan. According to market rumors, first, the market is starting to worry that Sailis' second-quarter profits may not meet expectations; second, there are rumors that a fund heavily invested in photovoltaics had to sell off its positions in Sailis, which were held at a high price, in order to cope with redemption pressure. Overall, the sell-off of Sailis may be due to individual stocks rather than the sector. However, the above-mentioned unfavorable information rumors have not been confirmed by relevant parties.