Donald Trump said that CFTC Chairman Michael Selig is working to bring Hyperliquid to the U.S. market in a format that complies with American requirements. Following the president’s statement, the HYPE token rose 11–20%, while shares of Hyperliquid Strategies, traded under the ticker PURR, gained about 30%.
The president made the statement during a meeting at the White House with executives from crypto companies and representatives of regulatory agencies. Selig and SEC Chairman Paul Atkins also attended the meeting. Other participants included executives from Coinbase, Ripple, Robinhood, Kraken, Nasdaq, and Intercontinental Exchange.
Selig previously said that onchain technologies such as Hyperliquid could transform financial markets. He also said that the CFTC wants to create conditions that would allow such platforms to operate in the U.S. while complying with regulatory requirements.
The CFTC has not officially approved Hyperliquid, and the platform has not publicly filed an application for registration. It also remains unclear how requirements for customer identification and user-fund protection would apply to a protocol that does not use custodial asset storage.
As of publication, Trump had not provided a timeline for a possible Hyperliquid launch in the U.S. and did not disclose how the platform would operate. The platform is currently unavailable to U.S. users.