Hyperliquid Engages CFTC, BGR to Bring Perpetuals Platform to US as Wall Street Weighs Threat
Updated
Updated · POLITICO · Aug 27
Hyperliquid Engages CFTC, BGR to Bring Perpetuals Platform to US as Wall Street Weighs Threat
1 articles · Updated · POLITICO · Aug 27
Summary
Hyperliquid has hired BGR Group lobbyists and is working with Sullivan & Cromwell partner Colin Lloyd in talks with the CFTC to bring its crypto trading platform onshore in the U.S.
Backers argue the platform solves crypto trading bottlenecks on speed, cost and resilience, positioning its perpetual futures market as a more efficient alternative for high-volume traders.
Wall Street interest is mixed: Intercontinental Exchange CEO Jeffrey Sprecher has praised Hyperliquid’s developers, but said his clients use markets mainly for hedging and that perps are not built for them.
That leaves Hyperliquid pushing into a U.S. market where perpetuals remain niche and their long-term role in mainstream finance is still unsettled, even as supporters say traditional firms risk being left behind.
Will the push to bring offshore crypto perpetuals into mainstream American finance ultimately revolutionize traditional markets or face insurmountable legal roadblocks?
With traditional giants fighting the CFTC's new rules, could a decentralized blockchain really dethrone Wall Street's legacy hedging infrastructure?
Can U.S. regulators successfully police a fully onchain trading platform without destroying the speed and cost benefits that made it popular?