Crypto CEO Calls for Probe After $20B Wipes Out Digital Assets

In response to a record $20 billion liquidation event across crypto markets, Kris Marszalek, CEO of Crypto.com, has urged regulators to conduct an investigation into trading practices at exchanges. He emphasized the need for regulatory oversight following the steepest losses since the market began in 2017. Marszalek pointed out concerns surrounding trading platform freezes and potential mispricing, particularly targeting exchanges like Hyperliquid, Bybit, and Binance, where significant losses occurred.