Hyperliquid Leads $10B Liquidations: Calls for Regulatory Probe
Hyperliquid faced massive criticism after $10 billion worth of positions were wiped out during the recent 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 into Hyperliquid and other top platforms, while Jeff Yan, CEO of Hyperliquid, deemed the claims "irresponsible" and cited transparency as the reason for the high liquidation numbers.
Author's summary: Hyperliquid's $10B liquidation sparks regulatory debate.