Hyperliquid names Lighter as a direct competitor, former employees implicated in the HYPE shorting incident.

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On December 23, Hyperliquid recently stated officially that it considers Lighter to be a direct competitor alongside CEX and Aster. Hyperliquid pointed out that these platforms are controlled by centralized sorters for trading status, emphasizing its own architectural advantage of being “fully on-chain, run by 24 validators, with no hidden states.” In contrast, Lighter focuses on “verifiable execution” and proof mechanisms, providing auditability for CLOB-like trading structures, and competition between the two is gradually heating up in the decentralized trading infrastructure space. Meanwhile, Hyperliquid also responded to community concerns regarding the alleged insider shorting incident involving the HYPE Token, stating that the related Wallet belongs to a former employee who was terminated in early 2024, and their actions are unrelated to the team. The platform stressed that it imposes strict HYPE trading and compliance restrictions on employees and contractors.

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