Hyperliquid Leads $10B Liquidations: Regulatory Scrutiny Needed?
Hyperliquid faced massive criticism after $10 billion worth of positions were wiped out during the recent crash, 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, while Jeff Yan, CEO and Co-Founder of Hyperliquid, defended the platform, stating that its transparency and data sharing led to the high reported liquidation numbers.
- Most positions were forcefully closed to keep the platform debt-free.
- Leaders call for better use of insurance funds to safeguard traders' capital.
Author's summary: Hyperliquid's $10B liquidation sparks regulatory debate.
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