Bitget CEO: Hyperliquid could be the next FTX

Bitget CEO Gracy Chen has said on X that Hyperliquid has the potential to be the next FTX, as the way it handled the JELLY incident was immature, unethical and unprofessional. She said that it caused losses for users and greatly damaged the credibility of the exchange even though Hyperliquid claims to be an innovative DEX (decentralized exchange). In reality, Chen suggested, it is no different from offshore centralized exchanges that facilitate illegal activities without KYC/AML. Chen referred to the saga as having the potential to lead to Hyperliquid becoming FTX 2.0.