Hyperliquid Leads $10B Liquidations
Hyperliquid faced massive criticism following its massive liquidation during the recent crash, with $10 billion worth of positions wiped out.
Leaders are calling for better use of insurance funds to safeguard traders' capital, as most positions were forcefully closed to ensure the platform remains debt-free.
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 and Co-Founder of Hyperliquid, said the claims were "irresponsible" and clarified that DEX's liquidation was the highest because it was the most transparent.
Author's summary: Hyperliquid faces criticism after $10B liquidation.