Hyperliquid Faces Criticism After $10B Liquidations
Hyperliquid has been at the center of controversy following the recent market crash, with $10 billion worth of positions being forcefully closed.
Regulators should look into the exchanges that had most liquidations in the last 24h and conduct a thorough review of fairness of practices.
Kris Marszalek, CEO of Crypto.com, has called for a probe into Hyperliquid and other top platforms, while Jeff Yan, CEO and Co-Founder of Hyperliquid, has defended the exchange, stating that the claims are "irresponsible" and that the high liquidation numbers are due to the platform's transparency.
- Hyperliquid faced $10 billion in liquidations during the recent crash.
- Leaders are calling for better use of insurance funds to safeguard traders' capital.
- The exchange's transparency has been cited as a reason for the high liquidation numbers.
Author's summary: Hyperliquid under fire after massive liquidations.