In May, the company that owns the NYSE was asking US regulators to rein in Hyperliquid. On Thursday it signed up to run a US perps market built on it. $HYPE holders noticed.
ICE says it will be the exclusive operator of a regulated, KYC'd retail perps market with Trade[XYZ], built on Hyperliquid, trading crypto, stocks, indices, commodities and FX around the clock. ICE is also putting money into Trade[XYZ]. None of it goes live until the CFTC signs off.
The May version of ICE, together with CME, wanted Washington to look hard at Hyperliquid's oil perps. The October version wants to be the US front door to the same rails. Wall Street rarely kills a market it can't beat. It ends up running it.
One thing to watch: ICE deleted its X post about the deal and put it back up on Oct 31, which sent a wave of "deal is off" posts around. The press release never came down. $HYPE is near $87.50 and flat on the day after spiking toward $97 on the news.
#Hyperliquid #TradFi
NFA. DYOR.
ICE says it will be the exclusive operator of a regulated, KYC'd retail perps market with Trade[XYZ], built on Hyperliquid, trading crypto, stocks, indices, commodities and FX around the clock. ICE is also putting money into Trade[XYZ]. None of it goes live until the CFTC signs off.
The May version of ICE, together with CME, wanted Washington to look hard at Hyperliquid's oil perps. The October version wants to be the US front door to the same rails. Wall Street rarely kills a market it can't beat. It ends up running it.
One thing to watch: ICE deleted its X post about the deal and put it back up on Oct 31, which sent a wave of "deal is off" posts around. The press release never came down. $HYPE is near $87.50 and flat on the day after spiking toward $97 on the news.
#Hyperliquid #TradFi
NFA. DYOR.
