Trump Touts CFTC Efforts to Bring Hyperliquid Onshore

President Donald Trump stated that the Commodity Futures Trading Commission (CFTC) is working on a regulatory pathway to allow Hyperliquid, a decentralized perpetual-futures trading platform, to operate legally in the United States. Speaking at a White House gathering of cryptocurrency and financial-industry executives on August 19, Trump mentioned that CFTC Chairman Michael Selig was also working on bringing Hyperliquid into the US 'in a fully compliant and legal fashion.'

The potential regulatory pathway under development does not mean Hyperliquid has received approval to serve American customers. The platform's primary interface currently restricts U.S. users, leaving the regulatory details unresolved.

The CFTC is attempting to establish regulated U.S. markets for cryptocurrency products that historically developed offshore, including perpetual futures. Hyperliquid has become one of the largest decentralized venues for these products, combining an on-chain order book with its own Layer 1 blockchain.

Trump's comments suggest Selig's agency is attempting to resolve regulatory questions rather than simply keeping platforms like Hyperliquid outside the US. Investors reacted immediately to the possibility of American expansion, with HYPE token initially jumping approximately 11% following Trump's remarks, subsequently accelerating and reaching a record price of approximately $82.43 on August 22.