HYPE jumps 11% as Trump says CFTC is working to bring Hyperliquid to U.S.
President Trump indicated that the CFTC is working to bring the crypto exchange Hyperliquid into the U.S. market in a compliant manner. While the announcement caused a spike in the HYPE token, the path to regulatory approval for such a platform remains complex and uncertain.
Why it matters
This signals a potential shift in U.S. regulatory appetite for offshore crypto derivatives platforms, which could significantly alter the domestic digital asset landscape.
"I understand that [CFTC Chairman] Mike [Selig] is also working to bring hyperliquid into the United States in a fully compliant and legal fashion, working very hard on that," Trump said.
Trump made the remarks during a White House event with crypto and technology executives, including Coinbase (COIN) CEO Brian Armstrong, Ripple CEO Brad Garlinghouse and Robinhood CEO Vlad Tenev. Leaders from Nasdaq and Intercontinental Exchange also attended.
Hyperliquid is a blockchain-based exchange best known for perpetual futures, or “perps,” which allow traders to bet on the price of an asset without owning it. Unlike traditional futures, the contracts have no expiration date. Traders connect their crypto wallets directly to the platform instead of opening an account with a traditional futures broker.
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