Hyperliquid Leads $10B Liquidations: Call for Regulatory Probe
Hyperliquid faced criticism after $10 billion worth of positions were wiped out during the recent crash, prompting calls for regulators to investigate exchanges.
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 of Hyperliquid, deemed the claims "irresponsible", citing transparency as the reason for the high liquidation data.
Leaders advocate for better use of insurance funds to safeguard traders' capital, ensuring platforms remain debt-free.
Author's summary: Hyperliquid's $10B liquidation sparks regulatory debate.