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, called for a probe into Hyperliquid and other top platforms, while Jeff Yan, CEO and Co-Founder of Hyperliquid, defended the platform, stating that its transparency and data sharing led to the high liquidation numbers.
- Leaders are calling for better use of insurance funds to safeguard traders' capital.
- Most positions were closed to ensure the platform remains debt-free.
Author's summary: Hyperliquid faces criticism after massive liquidations.
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