Hyperliquid Policy Center CEO Jake Chervinsky said Tuesday that every exchange will need to adopt public blockchain infrastructure within a decade to stay competitive. According to NS3.AI, he said that forecast depends on Hyperliquid's vision succeeding and described Hyperliquid as infrastructure exchanges can use rather than an exchange itself.

Chervinsky also said he expects onchain markets to enter the U.S. regulatory perimeter at some point soon. He called CME Group's lawsuit challenging approval of perpetual futures a delay tactic and said CME is highly unlikely to win. CME has argued that the contracts should be classified as swaps.