Hyperliquid delists JELLYJELLY memecoin amid whale manipulation fiasco

Hyperliquid delisted its perpetual contract for Solana-based memecoin JELLYJELLY after a whale manipulated onchain prices.The squeeze caused the community-owned HLP vault to take on roughly $12 million in unrealized losses initially.At least two major centralized exchanges listed JELLYJELLY futures trading amid the debacle, which posed a risk to Hyperliquid’s vault.