Hyperliquid might finally crack the US market—and it's not through the front door.
Kraken's parent Payward is in advanced talks to bring $HYPE perps to US traders via Bitnomial, a regulated exchange. The play? Let Bitnomial host a subset of Hyperliquid-linked futures so US degens can trade without Hyperliquid itself needing to register as a US exchange.
Smart regulatory arbitrage. Hyperliquid stays decentralized, Bitnomial takes the compliance heat, and US traders get access to a platform doing $4B+ daily volume.
Still needs CFTC approval—regulators historically hate permissionless platforms because they're a nightmare for AML and manipulation oversight. But Trump said his admin is working to bring Hyperliquid stateside, so timing might actually work.
$HYPE pumped 5% on the news, now up 230% YTD. If this deal closes, it's a blueprint for how other offshore perp platforms could enter the US without bending the knee to full registration.
Kraken's parent Payward is in advanced talks to bring $HYPE perps to US traders via Bitnomial, a regulated exchange. The play? Let Bitnomial host a subset of Hyperliquid-linked futures so US degens can trade without Hyperliquid itself needing to register as a US exchange.
Smart regulatory arbitrage. Hyperliquid stays decentralized, Bitnomial takes the compliance heat, and US traders get access to a platform doing $4B+ daily volume.
Still needs CFTC approval—regulators historically hate permissionless platforms because they're a nightmare for AML and manipulation oversight. But Trump said his admin is working to bring Hyperliquid stateside, so timing might actually work.
$HYPE pumped 5% on the news, now up 230% YTD. If this deal closes, it's a blueprint for how other offshore perp platforms could enter the US without bending the knee to full registration.