Trump Endorses Hyperliquid's US Entry Amid Regulatory Push

President Donald Trump's White House meeting with crypto and tech executives has sent shockwaves through the market, with Hyperliquid (HYPE) token surging over 20% on Wednesday. During the gathering, Trump signaled efforts to bring HYPE into the US market in a compliant and legal fashion.

The Commodity Futures Trading Commission (CFTC), led by Chairman Michael Selig, is working to establish a regulatory pathway for Hyperliquid's decentralized perpetual futures platform. This move follows the CFTC's authorization of the first perpetual futures contracts on registered US exchanges earlier this year.

Trump emphasized his administration's goal of maintaining US leadership in digital assets and artificial intelligence, criticizing policies under the previous administration that discouraged innovation in the sector. He also urged Congress to pass the Digital Asset Market Clarity Act, which aims to establish clearer regulatory boundaries between the SEC and CFTC for digital assets.

HYPE's price jumped 22% to $71.61 after the meeting, just shy of its all-time high of $76.87. The token faces resistance at $73-$76 before potentially hitting another hurdle at $94.8. The broader crypto market also saw significant gains, with top assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) posting huge increases.