U.S. President Donald Trump stated that regulators are working to ensure Hyperliquid's full and transparent presence in the American market. The exchange's native coin, HYPE, responded with an immediate surge of more than 6% within a few hours.
On Wednesday, August 19, a meeting between Trump and leaders of major cryptocurrency and technology companies took place at the White House. The president separately highlighted the head of the U.S. Commodity Futures Trading Commission (CFTC), Michael Selig, who, according to Trump, is overseeing the process of legalizing the platform.
Among the invited guests were also top executives from Coinbase, Ripple, and Nasdaq, as well as SEC Chairman Paul Atkins. However, it was Hyperliquid — the leading decentralized perpetual futures exchange — that took center stage. Currently, the platform blocks access for users from the United States, classifying them as restricted persons under its terms of use.
"I understand that Mike (Selig) is also working to bring Hyperliquid to the U.S. fully legally and transparently," Trump said.
Selig, 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 prediction markets.
Market reaction and HYPE prospects
The market responded immediately. 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, securing its tenth place among all crypto assets. HYPE first overtook Dogecoin back in May, entering the top 10.
Legal entry into the U.S. market is critical not only for investor sentiment. American traders hold leading positions in the derivatives market, and their access could bring a significant volume of liquidity and trading fees to the Hyperliquid ecosystem.
However, resistance remains. CME Group and NYSE owner ICE are advocating for stricter control over the platform, citing risks of manipulation and potential sanctions consequences. Compliance issues remain open: registration, KYC procedures, and leverage limits are difficult to apply to a non-custodial on-chain order book.
My analysis: The nearest catalyst will be the committee meeting on Thursday. If Selig presents specific conditions rather than general principles, this could be a turning point for HYPE. However, one should not forget: the institutional lobby of traditional exchanges will resist, and Hyperliquid's path to the U.S. is unlikely to be smooth.