Trump Says CFTC Working to Bring Hyperliquid to US
At a White House meeting with crypto executives, President Trump said CFTC Chair Michael Selig is working to bring Hyperliquid into the United States in a fully compliant manner. HYPE jumped 23% and LIT rose 20% following the announcement, while Bitcoin climbed to $72k and Ether passed $2,300. The statement signals a potential regulatory pathway for offshore perpetual futures venues to operate in the US, which could reshape how Americans access leveraged crypto trading. It also shows the SEC and CFTC advancing their own rulemaking while the Clarity Act remains stalled in Congress. Hyperliquid is an offshore venue where traders use perpetual futures—contracts with no expiration date—by connecting a wallet, a structure that bypasses the intermediaries US derivatives rules assume exist. The CFTC has been building toward this by clearing Coinbase Derivatives and Kalshi for similar products, and its Innovation Advisory Committee meets Thursday.
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Background, discussion, and references
Market impact
The news moved crypto markets primarily through a regulatory sentiment channel: a credible path for a major offshore perps venue to operate in the US raises expectations of broader DeFi access and lifted HYPE, LIT, and the broader market, contributing to over $3 billion in short liquidations and strong ETF inflows. The transmission to crypto assets is through perceived future demand and access, not through any direct change in market infrastructure.
Background
Hyperliquid is a Layer-1 blockchain with an integrated decentralized exchange, best known for perpetual futures trading. Perpetual futures allow traders to speculate on an asset's price without owning the underlying, using leverage and no expiry date. US regulation generally requires intermediaries and customer protections that most offshore crypto platforms do not provide, which is why they have remained out of reach for American users.
References
Tags
#Hyperliquid#CFTC#Crypto Regulation#Bitcoin ETFs#Market Rally