Trump named Hyperliquid at the White House: the HYPE token reacted with growth to a signal about legalization in the U.S.
U.S. President Donald Trump publicly mentioned Hyperliquid during a meeting with crypto industry leaders at the White House, stating that regulators are working to ensure the platform gains fully legal access to the U.S. market. The exchange's native token, HYPE, reacted instantly, surging more than 6% within a few hours.
The event took place on Wednesday, August 19, when executives from leading technology and cryptocurrency companies gathered at the White House. Among the guests were top managers from Coinbase, Ripple, and Nasdaq, as well as SEC Chairman Paul Atkins and CFTC Chairman Michael Selig. According to Trump, it is Selig who oversees the legalization process for Hyperliquid — one of the largest decentralized platforms for trading perpetual futures.
"I understand that Mike (Selig) is also working to bring Hyperliquid to the U.S. fully legally and transparently," Trump said. This came as an unexpected but highly significant signal for the market: the platform has so far blocked users from the U.S., classifying them as restricted persons under its terms of use.
Why this matters for the market
The choice of date for the statement is no coincidence. On August 20, the first meeting of the CFTC's Advisory Committee on Innovation will take place in Washington, with crypto assets, artificial intelligence, and predictive markets on the agenda. Preparation for this event has been underway for several months: in July, the Hyperliquid Policy Center and the Phantom wallet filed a joint petition with the CFTC requesting that DeFi protocols be exempted from outdated exchange rules that are poorly suited to non-custodial systems.
American traders hold dominant positions in the derivatives market, and granting them access to Hyperliquid could dramatically increase trading volumes and ecosystem fee revenue. However, resistance persists: CME Group and NYSE owner ICE are advocating for stricter control over the platform, citing risks of manipulation and potential sanctions-related consequences.
Market reaction and outlook
HYPE's market capitalization stands at approximately $15.1 billion, placing the token tenth among all crypto assets. HYPE first surpassed Dogecoin in May, entering the top 10. At the time of writing, the price holds around $68.19, and the nearest catalyst will be Thursday's committee meeting — the market expects Selig to provide either specific legalization terms or at least general principles that will determine further dynamics.
My analysis: The mention of Hyperliquid at such a level is not just PR but a marker of a shift in the regulatory course. If the CFTC indeed proposes workable frameworks for DeFi platforms, we could see not only growth in HYPE but also a revaluation of the entire decentralized derivatives sector. However, one should not discount the lobbyists of traditional exchanges — the fight for the American trader will be fierce.