Hyperliquid CEO Claims CEXs Hide Liquidation Data by Up to 100x

Hyperliquid founder Jeff has publicly challenged the transparency practices of centralized exchanges (CEXs), accusing them of underreporting liquidation data significantly. He cites a discrepancy of up to 100 times in reported figures, claiming that major platforms like Binance only disclose a fraction of actual liquidations during volatile market conditions. Hyperliquid’s on-chain system, which records every trade and liquidation publicly, offers a stark contrast to these opaque practices.