Trump Touts 'Cryptofy' of Futures Markets with Hyperliquid Exchange
At a recent White House event, Donald Trump praised financial regulators for their efforts to bring Hyperliquid, an online exchange based in Singapore, to the US. While Trump boasts about his pro-crypto stance and family investments in the space, Hyperliquid is not your average cryptocurrency operation.
The exchange specializes in perpetual futures contracts, also known as perps, which are linked to various assets such as cryptocurrencies like Bitcoin, crude oil, precious metals, and shares of US companies. Perps have no expiration date, trade around the clock, and allow for massive borrowing, increasing potential profits.
'It's a better product, period,' says Arthur Hayes, co-founder of BitMex, the Seychelles-based crypto exchange that pioneered perps.