Recent market turmoil, including unprecedented liquidations exceeding $19 billion, has highlighted concerns about data accuracy and transparency in cryptocurrency exchanges. Jeff Yan, founder of Hyperliquid, argues that major centralized platforms like Binance are significantly underreporting transactions compared to decentralized solutions on the Blockchain. This controversy arose after China’s 100% tariff announcement further amplified the scale of liquidations, leading to a widespread impact on the crypto market. Binance acknowledged these events with a $283 million compensation plan for affected users, while Bitcoin regained its value to $115,000. 24 hours later, Hyperliquid’s transparency and accuracy emerged as a focal point, with Yan claiming they recorded every order, trade, and liquidation on the Blockchain, guaranteeing verifiable and unbiased transactions.