[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Gracy Chen @Bitget [@GracyBitget](/creator/twitter/GracyBitget) on x 266.5K followers Created: 2025-03-26 17:01:15 UTC #Hyperliquid may be on track to become #FTX XXX. The way it handled the $JELLY incident was immature, unethical, and unprofessional, triggering user losses and casting serious doubts over its integrity. Despite presenting itself as an innovative decentralized exchange with a bold vision, Hyperliquid operates more like an offshore CEX with no KYC/AML, enabling illicit flows and bad actors. The decision to close the $JELLY market and force settlement of positions at a favorable price sets a dangerous precedent. Trust—not capital—is the foundation of any exchange (CEX and DEX alike), and once lost, it’s almost impossible to recover. Moreover, the platform's product design reveals alarming flaws: mixed vaults that expose users to systemic risk, and unrestricted position sizes that open the door to manipulation. Unless these issues are addressed, more altcoins may be weaponized against Hyperliquid—putting it at risk of becoming the next catastrophic failure in crypto. XXXXXXXXX engagements  **Related Topics** [jelly](/topic/jelly) [ftx](/topic/ftx) [cex](/topic/cex) [hyperliquid](/topic/hyperliquid) [decentralized](/topic/decentralized) [$jelly](/topic/$jelly) [bitget](/topic/bitget) [ftx token](/topic/ftx-token) [Post Link](https://x.com/GracyBitget/status/1904941729834557453)
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
Gracy Chen @Bitget @GracyBitget on x 266.5K followers
Created: 2025-03-26 17:01:15 UTC
#Hyperliquid may be on track to become #FTX XXX.
The way it handled the $JELLY incident was immature, unethical, and unprofessional, triggering user losses and casting serious doubts over its integrity. Despite presenting itself as an innovative decentralized exchange with a bold vision, Hyperliquid operates more like an offshore CEX with no KYC/AML, enabling illicit flows and bad actors.
The decision to close the $JELLY market and force settlement of positions at a favorable price sets a dangerous precedent. Trust—not capital—is the foundation of any exchange (CEX and DEX alike), and once lost, it’s almost impossible to recover.
Moreover, the platform's product design reveals alarming flaws: mixed vaults that expose users to systemic risk, and unrestricted position sizes that open the door to manipulation. Unless these issues are addressed, more altcoins may be weaponized against Hyperliquid—putting it at risk of becoming the next catastrophic failure in crypto.
XXXXXXXXX engagements
Related Topics jelly ftx cex hyperliquid decentralized $jelly bitget ftx token