Hyperliquid, the Most Popular Exchange of All Time, Targets Binance for the Recent Crash! Here Are the Accusations…

The cryptocurrency market experienced a major crash late ￰0￱ to Coinglass data, more than 1.6 million crypto investors were liquidated in a single day on Friday, bringing the total liquidations to $19.1 billion. However, it has been stated that the liquidation amount could be much ￰1￱ this point, the founder of Hyperliquid, the most popular decentralized exchange of recent times, made important ￰2￱ (HYPE) co-founder Jeff Yan also took aim at centralized exchanges, particularly Binance, regarding the ￰3￱ Yan criticized some centralized exchanges for significantly underreporting liquidation ￰4￱ noted that even if thousands of purges occur in a single second, only one of them is reported and shown to the ￰5￱ contrast, Yan noted that while Hyperliquid allows for all data to be verified on-chain in real-time and transparently, exchanges like Binance only reflect one liquidation per second in their data feeds, and even if thousands of liquidation orders are executed simultaneously, they are not actually reported.

This, he said, can result in underreporting by up to a factor of ￰6￱ argued that the on-chain systems that Hyperliquid also uses allow anyone to verify transactions, orders, and liquidations in real-time, thus guaranteeing transparency and fairness for ￰7￱ also cited Binance as an example, saying, “Some CEXs publicly document that they significantly underreport user liquidations.” “Hyperliquid’s purely on-chain liquidations are not comparable to under-reported CEX ￰8￱ is a blockchain where every order, transaction, and liquidation occurs ￰9￱ can verify the execution of the chain without permission, including all liquidations and fair execution for all users.

Additionally, anyone can verify the solvency of the entire system in real ￰10￱ and neutrality are key reasons why Defi, which operates entirely on-chain, is an ideal infrastructure for global ￰11￱ CEXs have publicly documented significant underreporting of user ￰12￱ example, even if thousands of liquidation orders occur simultaneously on Binance, only one is ￰13￱ liquidations occur so suddenly, under some circumstances, this could easily amount to a 100x ￰14￱ hope the industry sees transparency and neutrality as key features of the new financial system, and others will follow ￰15￱ Highlighted BNB's Strength! While CZ didn't explicitly respond to the Hyperliquid founder, it was reported that he did respond ￰16￱ believe CZ's latest BNB post was a response to Jeff ￰17￱ began his post by saying, “Some are asking why BNB is so strong?” He continued, “While others tried to ignore, hide, shift blame, or attack competitors, key players in the BNBChain ecosystem (Binance, Venus, and others) spent hundreds of millions of dollars out of their own pockets to PROTECT USERS.” While CZ ended his post with the words “different value systems,” it was interpreted that these words were a reference to Hyperliquid's comments. *This is not investment ￰18￱ Reading: Hyperliquid, the Most Popular Exchange of All Time, Targets Binance for the Recent Crash!

Here Are the Accusations…