Trump Signals Plan to Bring Crypto Exchange Hyperliquid Onshore

US President Donald Trump has signaled plans to bring Hyperliquid, a fast-growing crypto platform, onshore. This move would allow the exchange to operate under US oversight and give it access to a much larger pool of customers and capital.

The White House event saw Trump mention that he understands regulators are working to bring Hyperliquid into the country in a fully compliant and legal fashion. He referred to Commodity Futures Trading Commission Chairman Michael Selig, who is leading the effort.

Hyperliquid operates outside the US and is not officially open to American traders. It's a crypto exchange that specializes in perpetual futures contracts, which allow traders to speculate on cryptocurrency prices without an expiration date.

The platform has grown into a major venue for this type of trading, which historically flourished largely outside the US due to regulatory restrictions. The CFTC has recently laid out conditions under which regulated US platforms can offer perpetual contracts, part of a broader Trump administration effort to move crypto businesses and trading activity into the American financial system.

The move could have significant implications for traditional equity investors, who may now be able to bet on Hyperliquid's growth indirectly through its associated token, HYPE. This has already been seen in the sharp increase in shares of Hyperliquid Strategies, a publicly traded company that accumulates cryptocurrency and focuses on HYPE.