CXMT: Top Short Adds $2M Margin on Hyperliquid

CXMT top short on Hyperliquid added 2M USDC margin and now holds a 207.2M USD 1x short worth 12.78M USD at $6.4434 with 563K USD floating profit, plus 435K limit sell orders at $6.11. Earlier the position of 2.6M tokens opened at $6.4083 showed 3.062M USD loss before the price feed switched to real trades, lifting funding fees to 0.5x and costing 45K USD in two hours. The move raises questions whether this is naked shorting or hedging amid CXMT price prediction swings and broader crypto market liquidity concerns.