Trump Says Regulators Working to Bring Hyperliquid to the U.S.

President Donald Trump said U.S. regulators are working to bring Hyperliquid, a popular offshore venue for perpetual futures, to the U.S. The price of Hyperliquid token jumped 22% after the remark.

“I understand that Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion,” said Trump at a White House crypto meeting Wednesday, referring to the Commodity Futures Trading Commission Chairman Michael Selig.

If Hyperliquid enters the U.S., it will bring a competitor to Coinbase and Kalshi, which recently got approval to offer perpetual futures, which are contracts that allow traders to bet on the price of crypto or other assets with leverage without an expiry date.

Hyperliquid, an exchange and blockchain founded by Harvard graduate Jeff Yan in 2023, doesn’t operate a U.S.-regulated exchange and its interface prohibits U.S. users from trading through it. One regulatory pathway would be petitioning regulators to allow U.S.-regulated firms to offer perpetual futures to their clients on markets that trade, clear and settle on Hyperliquid’s public blockchain, Jake Chervinsky, CEO of Hyperliquid Policy Center, told The Information in a recent interview.