{"id":89823,"date":"2025-10-11T19:14:12","date_gmt":"2025-10-11T16:14:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=89823"},"modified":"2025-10-11T19:15:54","modified_gmt":"2025-10-11T16:15:54","slug":"crypto-com-ceo-urges-regulatory-scrutiny-after-19-billion-liquidations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-com-ceo-urges-regulatory-scrutiny-after-19-billion-liquidations\/","title":{"rendered":"Crypto.com CEO Urges Regulatory Scrutiny After $19 Billion Liquidations"},"content":{"rendered":"<p>Regulators should conduct a thorough investigation of cryptocurrency exchanges where traders suffered the most significant losses during a record liquidation exceeding $19 billion, stated <a href=\"http:\/\/crypto.com\">Crypto.com<\/a> CEO Kris Marszalek.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Regulators should look into the exchanges that had most liquidations in the last 24h and conduct a thorough review of fairness of practices. Any of them slowing down to a halt, effectively not allowing people to trade? Were all trades priced correctly and in line with indexes?\u2026 <a href=\"https:\/\/t.co\/UCD6iKuKFQ\">pic.twitter.com\/UCD6iKuKFQ<\/a><\/p>\n<p>\u2014 Kris | Crypto.com (@kris) <a href=\"https:\/\/twitter.com\/kris\/status\/1976939942254461094?ref_src=twsrc%5Etfw\">October 11, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He believes oversight bodies should assess the &#8220;fairness&#8221; of the practices employed by these platforms.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Did any of them slow down to a complete halt, effectively preventing people from trading? Were all trades priced correctly and in line with indexes? How are trade monitoring and anti-money laundering programs organized?&#8221; Marszalek outlined potential questions for the exchanges.<\/p>\n<\/blockquote>\n<p>He emphasized that many users were affected during the large-scale position closures, and it is the regulators&#8217; duty to protect consumers and ensure market integrity.<\/p>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">CoinGlass<\/a>, in the past 24 hours, amid the <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-slumps-to-about-111000\">market crash<\/a>, the liquidation volume reached approximately $19.3 billion. Crypto researcher Quinten Fran\u00e7ois noted that this figure far exceeded those recorded during the COVID-19 pandemic crash ($1.2 billion) and the FTX collapse ($1.6 billion).<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Covid crash: $1.2B in liquidations<\/p>\n<p>FTX crash: $1.6B in liquidations<\/p>\n<p>Today: $19.31B in liquidations<\/p>\n<p>You wished you bought during the COVID crash. <br \/>This is your COVID crash. <a href=\"https:\/\/t.co\/OnmNY7e86s\">pic.twitter.com\/OnmNY7e86s<\/a><\/p>\n<p>\u2014 Quinten | 048.eth (@QuintenFrancois) <a href=\"https:\/\/twitter.com\/QuintenFrancois\/status\/1976906323058213118?ref_src=twsrc%5Etfw\">October 11, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The undisputed leader in forced position closures for the day was the perp-DEX <a href=\"https:\/\/forklog.com\/en\/news\/the-price-of-popularity-and-a-lesson-for-all-hyperliquid\">Hyperliquid<\/a> with a volume of $10.3 billion. Trailing significantly behind were Bybit ($4.6 billion) and Binance ($2.4 billion).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;More than 1,000 wallets on Hyperliquid were completely wiped out in the market crash \u2014 users lost everything,&#8221; noted Lookonchain experts.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">More than 1,000 wallets on <a href=\"https:\/\/twitter.com\/hashtag\/Hyperliquid?src=hash&#038;ref_src=twsrc%5Etfw\">#Hyperliquid<\/a> were completely wiped out in the market crash \u2014 losing everything.<\/p>\n<p>In total, 6,300+ wallets are in the red, with combined losses exceeding $1.23B.<\/p>\n<p>205 wallets lost over $1M<\/p>\n<p>1,070+ wallets lost over $100K<\/p>\n<p>Data based on Hyperliquid\u2026 <a href=\"https:\/\/t.co\/pXl6bH8XTc\">pic.twitter.com\/pXl6bH8XTc<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1977006597085053039?ref_src=twsrc%5Etfw\">October 11, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In total, over 6,300 addresses on the platform suffered losses, with their combined damage exceeding $1.23 billion. Losses for 205 traders exceeded $1 million, with the account TheWhiteWhale leading the way \u2014 down nearly $61 million.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Hyperliquidated&#8221; \u2014 some commentators played on the exchange&#8217;s name.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Binance&#8217;s Concurrent Issues<\/h2>\n<p>Binance acknowledged that some liquidations were linked to the temporary loss of peg for three tokens: USDE, BNSOL, and WBETH. The platform&#8217;s co-founder <a href=\"https:\/\/forklog.com\/en\/news\/yi-he-the-influential-force-behind-binance\">Yi He<\/a> assured that the exchange would compensate for losses incurred due to its fault.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Due to significant market fluctuations over the past 16 hours and a substantial influx of users, some users have encountered issues with their transactions. I deeply apologize for this. If you have incurred losses attributable to Binance, please contact our customer service to\u2026 <a href=\"https:\/\/t.co\/9Q7GZuFY5H\">https:\/\/t.co\/9Q7GZuFY5H<\/a><\/p>\n<p>\u2014 Yi He (@heyibinance) <a href=\"https:\/\/twitter.com\/heyibinance\/status\/1976976922283221445?ref_src=twsrc%5Etfw\">October 11, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, losses related to market fluctuations and unrealized profits are not subject to compensation, she emphasized.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The reason Binance is Binance is that we never shy away from problems. When we fail, we take responsibility \u2014 without any excuses or justifications,&#8221; He stated.<\/p>\n<\/blockquote>\n<p>Aster did not make it into the top 10 platforms by daily liquidation volumes. In recent months, the Binance-backed platform has attracted attention for its rapid growth.<\/p>\n<p>Earlier, the analytical platform DeFi Llama excluded Aster&#8217;s trading volume data due to suspicions of manipulation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Regulators should conduct a thorough investigation of cryptocurrency exchanges where traders suffered the most significant losses during a record liquidation exceeding $19 billion, stated Crypto.com CEO Kris Marszalek.<\/p>\n","protected":false},"author":1,"featured_media":89824,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Crypto.com CEO calls for regulatory scrutiny after $19 billion liquidations.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,787,1138,36],"class_list":["post-89823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-dex","tag-opinions","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"414","promo_type":"1","layout_type":"1","short_excerpt":"Crypto.com CEO calls for regulatory scrutiny after $19 billion liquidations.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=89823"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89823\/revisions"}],"predecessor-version":[{"id":89825,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89823\/revisions\/89825"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/89824"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=89823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=89823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=89823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}