Hyperliquid Leads $10B Liquidations: Regulatory Probe Called For
Hyperliquid faced massive criticism after $10 billion worth of positions were wiped out during the recent crash, prompting 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, while Jeff Yan, CEO and Co-Founder of Hyperliquid, defended the platform, stating that its high liquidation numbers were due to transparency and full data sharing.
- Most positions were forcefully closed to keep the platform debt-free.
- Leaders are calling for better use of insurance funds to safeguard traders' capital.
Author's summary: Hyperliquid faces criticism and calls for regulatory probe.
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