Bitget CEO says Hyperliquid could become FTX 2.0 amid JELLY incident
Portfolio Pulse from
Bitget CEO Gracy Chen criticized Hyperliquid's handling of the JELLY token incident, suggesting the decentralized exchange operates unethically and lacks proper safeguards. After a $10.6 million loss due to market manipulation, Hyperliquid delisted the token and promised user compensation. Chen warned the incident could lead to systemic risks and potential catastrophic failure.
March 26, 2025 | 6:45 pm
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NEGATIVE IMPACT
HYPE token experienced significant price decline following criticism of the platform's handling of the JELLY token incident and potential systemic risks.
Negative public statements from industry leaders, allegations of unethical practices, and token delisting suggest short-term negative price pressure for HYPE.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100