The HYPE price broke above the psychological $70 level today after U.S. President Donald Trump confirmed the CFTC’s ongoing efforts to bring the decentralized perpetuals futures exchange Hyperliquid into the U.S. This comes as the regulator continues to foster a regulatory-friendly environment for the crypto industry, even as the CLARITY Act stalls.
HYPE Climbs Above $70 As Trump Comments On Hyperliquid
The HYPE price broke above $70 as President Trump said that the CFTC was working on bringing the perp DEX into the U.S. “I understand Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion,” the president said in reference to the CFTC Chair Mike Selig.
The DEX token sharply rose from around $62 to above $70 on the back of this comment. HYPE is currently trading at around $70, up over 19% today, according to TradingView data.
Source: TradingViewPresident Trump notably made this comment at the White House crypto summit today, which involved several crypto executives and the CFTC and SEC Chairs. This follows earlier reports that Hyperliquid is working with the CFTC and SEC about creating a pathway for the perp DEX to become accessible to U.S. users.
Hyperliquid doesn’t currently operate as a CFTC-regulated exchange and remains inaccessible to U.S. users as it operates offshore. However, the CFTC has already shown openness to making derivatives more accessible to Americans.
Notably, the regulator approved the prediction market Kalshi in May to list the first U.S.-regulated Bitcoin perpetual contract. Since then, the CFTC has also approved the listing of other crypto derivatives.
CFTC To Hold First IAC Meeting Tomorrow
The CFTC is set to hold the inaugural IAC meeting tomorrow, where it will further discuss crypto regulatory clarity even as the CLARITY Act stalls. The agenda includes potential topics on bringing offshore platforms such as Hyperliquid to the U.S. to promote innovation in the country.
Ahead of the meeting, the Hyperliquid Policy Center (HPC) and its CEO, Jake Chervinsky, have been actively pushing for a pathway to regulated onchain markets for perpetual futures in America. In an interview with The Information, he said that their goal is to help these regulators understand the importance of on-chain financial infrastructure.
The HPC also recently sent a comment letter to the SEC, introducing the idea of pre-IPO perpetuals to the Commission. The group urged the SEC to onshore IPOP markets for all investors, even as it considers key issues toward making such markets available to U.S. users.
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