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HYPE Token Drops 10% as Hyperliquid Struggles with Market Backlash
- Hyperliquid's USDC reserves dropped from $2.58B to $2.02B after the JELLY controversy.
- HYPE token fell 10% in 24 hours, with trading volume surging 443%.
- Bitget CEO criticized Hyperliquid's actions, likening it to FTX.
- Hyperliquid grapples with $340 million in USDC outflows following fallout from the JELLY token controversy.
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