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Hyperliquid’s Emergency JELLY Delisting Saves $240M but Sparks Centralization Backlash

Hyperliquid, a decentralized exchange (DEX) platform, delisted the JELLY token on March 26, 2025, following suspected market manipulation that triggered a $10.63 million loss, prompting emergency intervention by its validator network.

Hyperliquid, a decentralized exchange (DEX) protocol operating on its proprietary layer one (L1) blockchain, removed the JELLY token from trading on Wednesday after detecting suspicious market activity. The platform’s validator set intervened to force-settle JELLY at $0.0095, significantly below its peak of $0.16004, to mitigate further financial damage.

Hyperliquid’s Emergency JELLY Delisting Saves $240M but Sparks Centralization Backlash

Hyperliquid, a decentralized exchange (DEX) platform, delisted the JELLY token on March 26, 2025, following suspected market manipulation that triggered a $10.63 million loss, prompting emergency intervention by its validator network.

Hyperliquid, a decentralized exchange (DEX) protocol operating on its proprietary layer one (L1) blockchain, removed the JELLY token from trading on Wednesday after detecting suspicious market activity. The platform’s validator set intervened to force-settle JELLY at $0.0095, significantly below its peak of $0.16004, to mitigate further financial damage.

https://news.bitcoin.com/hyperliquids-emergency-jelly-delisting-saves-240m-but-sparks-centralization-backlash/