Trump's Comments Spark Surge in HYPE Value Amid US Crypto Regulatory Push

US President Donald Trump's comments have sparked a surge in the value of HYPE, the native token of Hyperliquid, a decentralized exchange that offers perpetual futures. The platform is currently not available to US investors, but if it enters the market, American traders would be able to use its services under regulatory oversight.

According to CoinMarketCap, HYPE was trading at $69.46 as of 1:04 p.m. Thursday, up 18.99 percent over the previous 24 hours. This comes after Trump referenced Commodity Futures Trading Commission Chair Michael Selig and said he understood that 'Mike is working to bring Hyperliquid into the United States in a legal way.'

Markets are reading this as part of a broader effort by the US government to bring crypto derivatives trading under domestic regulation. The CFTC has been working to update the relevant regulatory regime, and recently laid out conditions under which US platforms could offer perpetual futures.