Hyperliquid Leads $10B Liquidations: Calls for Regulatory Probe
Hyperliquid faced criticism after $10 billion in positions were liquidated during a recent market crash.
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, while Hyperliquid's CEO, Jeff Yan, deemed the claims "irresponsible", citing transparency as the reason for the high liquidation numbers.
- Most positions were forcefully closed to keep the platform debt-free.
- Leaders advocate for better use of insurance funds to protect traders' capital.
Author's summary: Hyperliquid faces criticism after massive liquidations.