HYPE jumps 10% as founder slams Binance for hidden liquidations

HYPE cryptocurrency surged 10% following explosive allegations from its founder against major exchange Binance regarding concealed liquidation practices. The digital asset's rally comes as the broader cryptocurrency market recovers from last week's devastating flash crash that triggered nearly $20 billion in liquidations across Bitcoin, altcoins, and DeFi tokens.

The massive sell-off marked one of the largest liquidation events in cryptocurrency history, sending shockwaves through blockchain markets and forcing traders to reassess risk management strategies. Market analysts spent the weekend investigating the root causes of the unprecedented crash, which impacted major cryptocurrencies including Bitcoin and Ethereum.

HYPE's double-digit gains highlight growing investor concerns about exchange transparency and hidden trading practices in the crypto ecosystem. The founder's accusations against Binance could spark broader regulatory scrutiny of cryptocurrency exchanges and their liquidation mechanisms.

As digital assets attempt to regain momentum, the incident underscores ongoing volatility challenges facing the cryptocurrency sector. The recovery trajectory will likely depend on restored investor confidence and clearer regulatory frameworks governing major crypto exchanges and their operational practices.