Jeff Yan, founder of Hyperliquid, has proposed that US regulatory frameworks target market operators rather than the blockchain itself. Shifting compliance obligations to identifiable operators could facilitate legal access to Hyperliquid in the United States. The HYPE token has fallen 1% to 3% over 24 hours and is trading between $76 and $78, down 20% from its September all-time high of $98.04. The market’s probability of HYPE reaching $100 by year-end is 29%, down from 37% the previous day, reflecting mixed sentiment amid regulatory uncertainty.
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