Hyperliquid Labs is in advanced talks with Payward, the parent company of Kraken, to enter the US market through Bitnomial, its CFTC-regulated derivatives platform. The proposed deal would allow registered American traders to access a subset of crypto perpetual futures tied to Hyperliquid, without the exotic markets or leverage available offshore. Payward closed its acquisition of Bitnomial on May 1 for $550 million, gaining three CFTC licenses. The HYPE token hit a record of $86.71 on August 27 despite zero registered US traders on the platform, with Hyperliquid routing 99% of protocol and trading fees to token repurchases, retiring $1.3 billion of supply since December 2024. HYPE traded at $83.57 on Monday, up 7.1% over the week, though a filing with the CFTC is not the same as regulatory clearance.
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