“Regulatory Probe Urged as $20 Billion in Crypto Liquidations Spike: DMK AI Report”

📰 DMK AI Summary

Crypto.com CEO Kris Marszalek has called for a regulatory probe into exchanges following a record $20 billion in crypto liquidations. Marszalek urged regulators to review fairness practices, questioning if trading platforms manipulated prices or failed to maintain compliance controls. Data from CoinGlass revealed that Hyperliquid, Bybit, and Binance were the top three exchanges in liquidations.

In response to the liquidation incident, Binance confirmed a price depeg issue that led to forced liquidations for some users. Binance co-founder Yi He issued a public apology, acknowledging user complaints and promising compensation for verified cases of platform errors. The recent market crash, with over $19 billion in liquidations, surpassed previous downturns including the COVID-19 crash and the FTX collapse.

💬 DMK Insight

The call for a regulatory investigation by Crypto.com’s CEO highlights concerns about the fairness and stability of cryptocurrency exchanges during market crashes. This event underscores the need for stronger oversight and transparency within the crypto industry to protect investors and ensure market integrity. Traders and investors should remain cautious and vigilant in dealing with volatile crypto assets and exchange platforms.

🧾 Editorial Note

This article was automatically summarized and analyzed by DMK News Bot’s AI System, using publicly available data and verified financial updates.