Hyperliquid Faces Criticism After $10B Liquidations
Hyperliquid recently experienced a massive liquidation of $10 billion worth of positions, leading to calls for regulatory scrutiny.
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, made this statement in response to the incident, while Jeff Yan, CEO of Hyperliquid, defended his platform, stating that its transparency and data sharing led to the high reported liquidation numbers.
- Most positions were forcefully closed to ensure the platform remains debt-free.
- Leaders are calling for better use of insurance funds to safeguard traders' capital.
Author's summary: Hyperliquid faces criticism after massive liquidations.
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