Crypto.com CEO calls on regulators to investigate exchanges that experienced massive liquidations in the past 24 hours

ChainCatcher news, Crypto.com CEO Kris posted on the X platform stating that regulators should investigate exchanges that experienced large-scale liquidations in the past 24 hours and conduct a thorough review of the fairness of their actions.

The review should include: whether the trading system experienced outages or delays that prevented users from trading, whether all trade pricing was consistent with the index, the setup of trading monitoring and anti-money laundering (AML) mechanisms, and whether the internal trading team was effectively isolated.

He pointed out that the $20 billion in liquidations harmed a large number of users, and it is the responsibility of regulators to protect consumers and ensure market integrity.