
Hyperliquid CEO Jeff Yan and data platform CoinGlass warned that the liquidation reporting method used by centralized exchanges, such as Binance, may undercount actual liquidations. Hyperliquid co-founder and CEO Jeff Yan claimed that the way centralized crypto exchanges, and Binance specifically, report liquidation data likely underrepresents the true scale of losses during major market sell-offs. Bitcoin (BTC) fell to $102,000 on Friday after US President Donald Trump announced sweeping tariffs on China. Ether (ETH) also dropped to $3,500, while Solana (SOL) slipped below $140 amid a marketwide sell-off. According to data from CoinGlass, $16.7 billion worth of long positions and $2.46 billion in short positions were liquidated on Friday, marking the largest liquidation event in crypto history. Read more