Via medium.com
HYPE surges 22% above $72 as Trump says CFTC is working to bring Hyperliquid onshore
HYPE climbed above $72 after Trump said the CFTC is working on a path to bring Hyperliquid onshore for US traders.
HYPE surged more than 22% on Wednesday afternoon, climbing above $72 after President Trump said the Commodity Futures Trading Commission is working to bring Hyperliquid onshore for US traders.
Hyperliquid operates a noncustodial, fully onchain perpetual futures exchange and has remained unavailable to US traders without a clear regulatory path.
In July 2026, Hyperliquid’s Policy Center approached the CFTC seeking clarity on compliance requirements for onchain software and derivatives.
CFTC Chair Selig has signaled that the agency intends to develop a regulatory framework tailored to onchain perpetuals rather than apply legacy rules designed for traditional financial markets.
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A US framework could allow Hyperliquid to preserve its core onchain architecture while adding compliance requirements around identity verification and market surveillance.
For US traders, the change could open access to one of the largest decentralized perpetual futures platforms under a clearer regulatory structure.
A successful framework could also provide a regulatory template for other decentralized perpetual exchanges including dYdX and GMX, while increasing competition for regulated centralized platforms such as Coinbase and Kraken.