Decentralized exchange Hyperliquid delisted JELLYJELLY perpetual futures to prevent a liquidation crisis after a user’s highly leveraged $6 million short position turned toxic as the meme coin's price surged. The decision, made by the platform’s validators, sparked backlash, with critics questioning Hyperliquid’s decentralization claims. The delisting led to temporary losses for the community-run liquidity vault but was later reversed. Meanwhile, JELLYJELLY’s price soared 73%, and major exchanges like Binance and OKX listed the token for perpetual trading. The controversy follows previous liquidation issues on Hyperliquid and concerns over North Korean-linked wallets using the platform. Source: Decrypt
