According to @ThinkingUSD, Hyperliquid allegedly posts about USD 150 billion in daily volume that he characterizes as wash trading, roughly twice Binance’s average daily volume, and he further claims CZ has distanced himself from the platform (source: @ThinkingUSD on X, Oct 15, 2025). The post provides no third-party evidence, on-chain data, or audit references to substantiate these allegations (source: @ThinkingUSD on X, Oct 15, 2025). In light of the volume credibility concern raised, traders focused on derivatives execution may consider independently validating venue-reported liquidity, funding rates, and depth before sizing positions on Hyperliquid (source: @ThinkingUSD on X, Oct 15, 2025).