HYPE jumpes 22% after Trump said the CFTC chair is working to bring Hyperliquid onshore
President Trump said CFTC Chair Mike Selig is working to bring Hyperliquid into the US in a fully compliant and legal fashion, sending the HYPE token surging 22% with trading volume up 277%.
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Hyperliquid's native token $HYPE surged as much as 22% on Wednesday after President Donald Trump publicly stated that the Commodity Futures Trading Commission is working to bring the decentralized perpetual futures exchange into the United States under a regulated framework. Trading volume spiked 277%, with the token changing hands at around $71.
What Trump Said at the White House
Trump made the remarks during a White House event with crypto and technology executives, saying: "I understand that [CFTC Chairman] Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion, working very hard on that." CFTC Chair Michael Selig, Securities and Exchange Commission Chair Paul Atkins, and White House crypto advisor Patrick Witt also joined Trump at Wednesday's gathering.
Trump did not say what an onshore version of Hyperliquid would look like or what regulatory approvals it would need, and his comments do not mean the @CFTC has approved the exchange. But they suggest the agency is exploring whether one of crypto's biggest venues for perpetual futures can operate within the US.
The Road to a US Launch
US persons are currently classified as Restricted Persons on @HyperliquidX, with geofencing enforcing the block and the platform's terms explicitly forbidding VPN workarounds. US derivatives exchanges face strict rules governing registration, customer protections, and market oversight, requirements that have kept many crypto platforms from serving US customers directly.
Hyperliquid processed over $633 billion in combined perpetuals and spot volume during the first quarter of 2026 alone and commands roughly 32% of the on-chain perpetual futures market as of mid-2026. The scale of what could be unlocked for US traders is significant. CFTC Chairman Mike Selig has publicly advocated for bringing perpetual futures onshore since being confirmed in December 2025.
The Hyperliquid Policy Center, funded by the Hyper Foundation with 1 million HYPE tokens, has been running a coordinated regulatory campaign since launching in February 2026. A key regulatory precedent came on May 29, 2026, when the CFTC approved Kalshi's BTCPERP contract, essentially giving the green light for regulated US venues to list perpetual futures products.
If the CFTC builds a framework that a non-custodial protocol can meet, or Hyperliquid establishes a compliant US structure, the largest blocked market in crypto could open. For now, the path and timeline remain undefined, and no regulatory approval has been granted.
Sources:
CoinDesk: HYPE jumps as Trump says CFTC is working to bring Hyperliquid to the US
Bloomberg: Trump Opens Door to Hyperliquid as US Pulls Crypto Trade Onshore
Crypto Briefing: Hyperliquid seeks compliant path for US perpetual contracts
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Crypto RichRich has been researching cryptocurrency and blockchain technology for eight years and has served as a senior analyst at BSCN since its founding in 2020. He focuses on fundamental analysis of early-stage crypto projects and tokens and has published in-depth research reports on over 200 emerging protocols. Rich also writes about broader technology and scientific trends and maintains active involvement in the crypto community through X/Twitter Spaces, and leading industry events.