Hyperliquid Founder Criticizes Binance and CEXs
Hyperliquid founder Jeff Yan defended the platform's transparency in liquidation, stating that centralized exchanges (CEXs) like Binance underreport data by 100x.
- Hyperliquid's decentralized exchange (DEX) faced accusations of liquidations after the crypto market crash last Friday.
- Jeff Yan emphasized that Hyperliquid's on-chain liquidations cannot be compared to those of Binance and other CEXs.
Top exchanges like Binance, Coinbase, and others have been underreporting their liquidation numbers by a factor of nearly 100x.
Despite congestion issues, Hyperliquid reported zero downtime and handled trades swiftly, unlike top crypto exchanges like Binance, Coinbase, and Kraken.
Author's summary: Hyperliquid founder criticizes Binance.