President Donald Trump said on Aug. 19 that CFTC Chair Michael Selig is working to bring Hyperliquid to the US under a fully compliant legal framework. The on-chain perpetual futures venue processed over $114 billion in August trading volume with $10 billion or more in open interest and generates roughly $50 million in monthly protocol fees. Selig proposed creating a new crypto asset market designation that would allow on-chain and offshore venues to operate legally in the US without routing activity through traditional designated contract markets. The HYPE token rallied more than 20% following the announcement, reaching above $70 for the first time since early July. No firm timeline, legal entity, or product list has been announced yet, leaving Hyperliquid’s compliance pathway unresolved.
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