Trump Backs Singapore Exchange's Perpetual Futures Contracts
At a recent White House event, former US President Donald Trump commended financial regulators for their efforts to bring Hyperliquid, an online exchange based in Singapore, to the US. This praise comes from a president who has been dubbed 'the pro-crypto president' due to his family's significant investments in the space and digital currencies named after him.
However, Hyperliquid is not your average cryptocurrency operation. It specializes in perpetual futures contracts, also known as perps, which are linked to various assets including cryptocurrencies, crude oil, precious metals, and shares of US companies.
The co-founder of BitMex, Arthur Hayes, describes perps as 'a better product' due to their unique characteristics: they have no expiration date, trade around the clock, and allow for massive borrowing, increasing the potential gains.