Headquartered in Singapore—where’s the license?
This morning, Jeff Yan took the main stage at TOKEN2049 in Singapore to talk about how Hyperliquid is “rebuilding finance.” Outside the venue, the FT pressed a very practical question the same day: Hyperliquid Labs confirmed that its headquarters are in Singapore, but the platform has no MAS license. MAS also said it was unaware of the company holding regulatory approval in any major jurisdiction.
The purpose of MAS’s Investor Alert List is to remind the public not to treat platforms on the list as licensed institutions. A protocol can operate permissionlessly, while the company still has offices, employees, and a registered address. Regulators don’t just scrutinize code—they find someone who can receive a letter.
$HYPE is trading at around $89, down nearly 5% over 24 hours. The market reaction has been fairly restrained. Whether the 3.75M unlock gets sold will become clear in a few days. Regulatory status follows a platform into every new market, gradually affecting its partners, product range, and HYPE’s valuation.
#hype #Hyperliquid
This morning, Jeff Yan took the main stage at TOKEN2049 in Singapore to talk about how Hyperliquid is “rebuilding finance.” Outside the venue, the FT pressed a very practical question the same day: Hyperliquid Labs confirmed that its headquarters are in Singapore, but the platform has no MAS license. MAS also said it was unaware of the company holding regulatory approval in any major jurisdiction.
The purpose of MAS’s Investor Alert List is to remind the public not to treat platforms on the list as licensed institutions. A protocol can operate permissionlessly, while the company still has offices, employees, and a registered address. Regulators don’t just scrutinize code—they find someone who can receive a letter.
$HYPE is trading at around $89, down nearly 5% over 24 hours. The market reaction has been fairly restrained. Whether the 3.75M unlock gets sold will become clear in a few days. Regulatory status follows a platform into every new market, gradually affecting its partners, product range, and HYPE’s valuation.
#hype #Hyperliquid