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The Centralization Dilemma: Binance vs. Hyperliquid
This chapter explores the friction between Binance and Hyperliquid, emphasizing the blurred lines between decentralization and centralization in Hyperliquid's operations. It highlights concerns related to market manipulation, the questionable use of insurance funds tied to native tokens, and the regulatory challenges faced by decentralized exchanges. The discussion draws parallels to historical financial failures, urging caution as Hyperliquid navigates its development in a complex financial landscape.
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