Crypto.com CEO calls for probe into exchanges after $20B liquidations

Crypto.com CEO Kris Marszalek has urged regulators to probe exchanges after $20 billion in liquidations, far outpacing any previous market crash, including FTX.

Crypto.com CEO Kris Marszalek has called for a regulatory investigation into exchanges that suffered the largest losses following a record $20 billion in crypto liquidations over the past 24 hours.

In a Saturday post on X, Marszalek urged regulators to “conduct a thorough review of fairness of practices,” asking whether trading platforms had slowed down, mispriced assets, or failed to maintain proper anti-manipulation and compliance controls during the crash.

“Regulators should look into the exchanges that had most liquidations in the last 24 hours,” he wrote. “Any of them slowing down to a halt, effectively not allowing people to trade? Were all trades priced correctly and in line with indexes?”

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