Hyperliquid founder "Centralized exchanges report liquidation data reduced by up to 100 times"
Summary
- Hyperliquid co-founder criticized that some centralized exchanges are underreporting actual liquidation volumes by up to 100 times.
- He said this criticism came after market volatility that resulted in the liquidation of $19 billion in positions.
- It stated that accused exchanges, including Binance, have not issued any official statements.
The co-founder of decentralized derivatives exchange Hyperliquid (HYPE) criticized that some centralized exchanges are underreporting the actual scale of liquidations in connection with the recent market crash.
On the 13th (local time), Jeff Yan (Jeff Yan), Hyperliquid founder, said on X (formerly Twitter), "Some exchanges report only one liquidation even when thousands occur in a second," adding, "This can cause liquidation volumes to be recorded up to 100 times smaller than they actually are." He also pointed out, "There is a structural problem in Binance's (Binance) public documentation."
These remarks came immediately after sharp market volatility on the 10th that resulted in the liquidation of $19 billion in positions. According to Coinglass (Coinglass), more than 1.6 million traders worldwide were liquidated that day.
Binance (Binance) has not issued any official statement regarding the allegations.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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