CUMBERLAND QUESTIONS HYPERLIQUID PERPS COMING TO THE US
š¦ Plan: An ICE-backed plan to bring #Hyperliquid perps to US traders is taking shape, with ICE running the regulated market and clearing, pending approval, alongside a separate Kraken HIP-3 path.
ā Four questions: Cumberland CEO Don Wilson asked what on-chain perps add over centralized venues, whether the transparent book exposes positions, whether priority fees amount to front-running, and whether the US book can merge with the global one.
š Tracking: Hyperliquid's order book is fully public, so anyone can follow positions in real time, unlike CFTC markets where identities stay partly hidden. Wilson asked backer Stanley Druckenmiller directly if he knew and saw that as a benefit.
š Liquidity: A separate US book would mean thinner liquidity, the Binance.US lesson. Jito Labs agrees that is the core issue, while privacy tech could address the transparency part.
š¬ Comment: A necessary counterpoint, not a death blow. The market will decide which model survives.
$HYPE
š¦ Plan: An ICE-backed plan to bring #Hyperliquid perps to US traders is taking shape, with ICE running the regulated market and clearing, pending approval, alongside a separate Kraken HIP-3 path.
ā Four questions: Cumberland CEO Don Wilson asked what on-chain perps add over centralized venues, whether the transparent book exposes positions, whether priority fees amount to front-running, and whether the US book can merge with the global one.
š Tracking: Hyperliquid's order book is fully public, so anyone can follow positions in real time, unlike CFTC markets where identities stay partly hidden. Wilson asked backer Stanley Druckenmiller directly if he knew and saw that as a benefit.
š Liquidity: A separate US book would mean thinner liquidity, the Binance.US lesson. Jito Labs agrees that is the core issue, while privacy tech could address the transparency part.
š¬ Comment: A necessary counterpoint, not a death blow. The market will decide which model survives.
$HYPE
