Hyperliquid founder Jeff has taken aim at centralized exchanges (CEXs), accusing them of severely underreporting liquidation data and misleading users about the scale of risk during volatile market conditions. In a post on X, Jeff claimed that even when “thousands of liquidations occur within a single second,” some CEXs only display one liquidation event publicly, masking real activity by up to 100 times. The comment has reignited the long-running debate over transparency between centralized trading venues and decentralized onchain protocols. “One Second, Thousands of Liquidations, Only One Shown” Jeff’s remarks come as traders demand more transparency in how CEXs handle
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