Hyperliquid founder publicly criticizes CEX for inflating liquidation volume issues

On October 13, Hyperliquid co-founder Jeff stated, "Hyperliquid is a Blockchain where all orders, transactions, and settlements are conducted on-chain. Anyone can verify the execution of the chain without permission, including all settlements and their fair execution for all users. Additionally, anyone can verify the solvency of the entire system in real-time. Transparency and neutrality are key reasons why fully on-chain DeFi becomes the ideal infrastructure for global finance. Some centralized trading platforms publicly declare that they severely underreport user settlement situations. For example, in CEX, even when there are thousands of settlement orders in the same second, only one is reported. Since settlement is an event that occurs suddenly, in some cases, the underreported amount can easily reach 100 times. It is hoped that the industry can regard transparency and neutrality as important features of the new financial system and encourage other industries to follow suit."