U.S. President Donald Trump has confirmed that regulators are actively working to ensure full legal access to the Hyperliquid platform in the American market. The exchange's native token, HYPE, reacted with an immediate surge of more than 6% within a few hours.
This statement was made on August 19 during a closed-door meeting with leaders of major crypto and technology companies at the White House. Among those invited were top executives from Coinbase, Ripple, and Nasdaq, as well as SEC Chairman Paul Atkins and CFTC Chairman Michael Selig. Trump specifically thanked Selig for his role in advancing the process of legalizing Hyperliquid.
Selig Opens the Path for Hyperliquid in the U.S.
Currently, the platform—one of the largest decentralized perpetual futures exchanges—blocks access for U.S. users, classifying them as restricted persons under its terms of use. However, based on Trump's remarks, this situation is close to a dramatic change.
"I understand that Mike (Selig) is also working to bring Hyperliquid to the U.S. fully legally and transparently," the president stated.
Selig himself, in turn, promised to reveal details of the new regulation 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. On the agenda are crypto assets, artificial intelligence, and prediction markets. Preparations for this event have been underway for several months: back in July, the Hyperliquid Policy Center and the Phantom wallet filed a joint petition with the CFTC requesting that DeFi protocols be exempted from outdated exchange rules.
Market Reaction: HYPE in the Top 10
Markets did not keep anyone 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. HYPE first surpassed Dogecoin back in May, entering the top 10.
Legal access to the American market is critically important not only for investor sentiment. U.S. traders hold leading positions in the derivatives market, and their arrival could bring a significant new volume of liquidity and trading fees to the Hyperliquid ecosystem.
However, resistance persists. According to my data, CME Group and NYSE owner ICE are advocating for stricter control over the platform, citing risks of manipulation and potential sanctions-related consequences. Compliance issues, including registration, KYC procedures, and leverage limits, remain difficult to apply to non-custodial on-chain trading.
My analysis: The nearest catalyst will be Thursday's committee meeting. If Selig presents concrete conditions rather than general principles, we could see sustained growth in HYPE. Otherwise, the market may correct, as the current momentum is largely based on expectations rather than an accomplished fact. Keep an eye on the CFTC agenda—it is currently the main driver for the entire DeFi industry.