CFTC Signals Onshore Approval for $200B Hyperliquid Venue

The US Commodities Futures Trading Commission (CFTC) is working to bring Hyperliquid, a $200B on-chain venue, to the US in a fully compliant and legal way, according to President Donald Trump. CFTC Chair Michael Selig has acknowledged that the agency's existing framework needs rethinking for wallets and decentralized protocols like Hyperliquid.

Hyperequare (HYPE) rallied 20% after Trump's remarks, reaching $70 again for the first time since early July. Hyperliquid processed over $114B in perpetual futures trading volume in August, with open interest above $10B and cumulative perpetual volume of over $5T.

CFTC Chair Selig has signaled that if the CLARITY Act stalls in Congress, the agency will use its existing authority to start building a crypto market regime on its own. This would involve designating both current registrants and non-registrant crypto exchanges as a type of designated contract market called a crypto asset market.