Key Takeaways:
HYPE rose 6% to $68.19 after President Trump said regulators are working to bring Hyperliquid, the dominant decentralized perpetual futures exchange, into the US legally.
Trump spoke at a White House gathering of crypto and technology executives on Aug. 19, crediting Commodity Futures Trading Commission Chairman Michael Selig with leading the effort. "I understand that Mike (Selig) is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion," Trump said.
HYPE, Hyperliquid's native token, carries a market cap of roughly $15.1 billion, ranking tenth among all crypto assets. The token first flipped Dogecoin in May to secure that top-10 position. Selig said he will provide more details on the regulatory path forward on Thursday, when the CFTC convenes its first-ever Innovation Advisory Committee meeting in Washington with an agenda covering crypto assets, artificial intelligence, and prediction markets.
A legal US pathway would matter beyond sentiment. American traders represent the deepest derivatives market in the world, and onshore access could channel new volume and fees into the Hyperliquid ecosystem. Prediction markets now price an 18% likelihood that HYPE reaches $100 by Dec. 31, 2026, up from previous days.
Groundwork for this moment has been building for months. The Hyperliquid Policy Center and wallet provider Phantom jointly petitioned the CFTC in July, asking regulators to exempt DeFi protocols from legacy exchange rules. Trump hosted executives from Coinbase, Ripple, and Nasdaq at the event, with SEC Chair Paul Atkins also in attendance.
Resistance persists. CME Group and NYSE parent ICE have reportedly lobbied for tighter scrutiny of the platform, citing manipulation and sanctions exposure concerns. Compliance questions also remain unresolved — registration, know-your-customer checks, and leverage limits do not map neatly onto a non-custodial, onchain order book.
Thursday's committee meeting now stands as the immediate event to watch. Whether Selig offers concrete terms or broad principles could shape the next leg of the HYPE price outlook. For traders, the $68 level marks a key near-term support, with the $100 psychological threshold now within reach of prediction market pricing. The regulatory outcome will also carry implications for other DeFi protocols seeking US market access, as Hyperliquid's path could set a precedent for how non-custodial platforms navigate CFTC oversight.
This article is for informational purposes only and does not constitute investment advice.
