Bitget CEO questions Hyperliquid's risk control mechanism, warning it could become the next FTX

ChainCatcher news, Bitget CEO Gracy Chen publicly criticized Hyperliquid's handling of the JELLY incident, pointing out that the platform: the forced liquidation operation is suspected of price manipulation; the mixed fund pool design has systemic risks; the failure to implement KYC/AML raises concerns about money laundering.

Chen warned that if the platform does not address product design flaws and the trust crisis, it could become the "next FTX." This controversy stems from Hyperliquid's previous closure of the JELLY trading pair and the forced liquidation at a specific price.