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Did Binance enable JELLYJELLY leveraged trade against Hyperliquid?

A bizarre and enthralling trade involving Binance and the JELLYJELLY memecoin could have liquidated Hyperliquid today.

Hyperliquid trader ‘Tether FUD’ leverages 40X to short bitcoin

Tether FUD, a trader on the Hyperliquid perpetual futures exchange trader, took on 40X leverage to bet that bitcoin’s price would crash.

Crypto influencers like Rektober and Sifu are actively losing users’ money via hedge fund-like HyperLiquid vaults.

HyperLiquid has responded to an increasing velocity of criticisms about its code, token supply, and validator centralization.

While some would like to see Lazarus Group’s ill-gotten gains go down the drain, others see the activity on HyperLiquid as a worrying sign.