U.S. President Donald Trump has publicly confirmed that regulators are actively working to ensure Hyperliquid's full and transparent entry into the American market. The exchange's native token, HYPE, responded with an immediate surge of more than 6% within a few hours.
On Wednesday, August 19, a closed-door meeting was held at the White House with top executives from leading crypto and technology companies. Among those invited were heads of Coinbase, Ripple, and Nasdaq, as well as SEC Chairman Paul Atkins and CFTC Chairman Michael Selig. However, the key moment was a specific mention of Hyperliquid — a decentralized perpetual futures exchange that currently blocks users from the U.S., classifying them as restricted persons.
Trump directly stated that Selig is working on legalizing the platform:
"I understand that Mike (Selig) is working on bringing Hyperliquid to the U.S. fully legally and transparently."
Selig himself, in turn, promised to reveal regulatory details as early as Thursday. The choice of date is no coincidence: on August 20, the first meeting of the CFTC's Advisory Committee on Innovation will take place in Washington. The agenda includes crypto assets, artificial intelligence, and predictive markets.
Market Reaction and HYPE's Position
The market did not keep itself waiting. Over the past 24 hours, HYPE has risen by more than 6%, reaching around $68.19. The token's market capitalization stands at approximately $15.1 billion, placing it tenth among all crypto assets. It's worth recalling that in May, HYPE first surpassed Dogecoin, entering the top 10.
Legal access to the American market is critically important not only for positive investor sentiment. U.S. traders traditionally hold leading positions in the derivatives market, and their arrival could bring a significant volume of liquidity and fee revenue to the Hyperliquid ecosystem.
Resistance and Unresolved Issues
However, not everything is smooth. According to my information, CME Group and NYSE owner ICE are advocating for stricter control over the platform, citing risks of manipulation and potential exposure to sanctions. Compliance questions remain open: registration, KYC procedures, and leverage limits are difficult to apply to a non-custodial on-chain order book.
The nearest catalyst will be the committee meeting on Thursday. Whether Selig will present specific conditions or limit himself to general principles will determine the further price dynamics of HYPE.
My analysis: The direct mention of Hyperliquid at the presidential level is an unprecedented signal for institutional adoption of DeFi derivatives. However, the market has already priced in a significant portion of this optimism. The key question is not the fact of legalization itself, but its conditions: if the regulator demands substantial compromises in the protocol's architecture, this could offset some of the platform's competitive advantages. Watch the details of tomorrow's meeting — they will be decisive for HYPE's medium-term trend.