Hyperliquid Founder Accuses Binance of Underreporting Liquidations by a Factor of 100
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Oct 13 2025Liquidation Data Discrepancies: Over 1.6 million traders were liquidated in a single day, leading to an estimated $19.1 billion loss, but industry insiders, including Hyperliquid's co-founder Jeff Yan, claim centralized exchanges like Binance underreport these figures, potentially by as much as 100 times.
Philosophical Divide in Crypto: The debate intensifies between two camps in the crypto community: one advocating for complete on-chain transparency, as exemplified by Hyperliquid, and the other prioritizing user protection through managed systems, as represented by Binance's approach.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
