In short
- Intercontinental Exchange and CME Group say they are urging the CFTC to address market threats associated with Hyperliquid.
- The Hyperliquid Policy Center has publicly dismissed concerns about traditional exchanges as unfounded, pointing to public transactions.
- During the energy market meltdown, Hyperliquid has made $21.51 billion in the benchmark Brent futures.
The Hyperliquid The Policy Center pushed back Friday against concerns raised by the exchange on Wall Street, saying central exchangeor DEX, is designed in a way that is “hostile” to insider trading and price manipulation.
“Hyperliquid transparency acts as a deterrent to efficiency and facilitates monitoring, detection, and investigation by regulators and law enforcement,” the organization said in X. postshowing how people behave on the platform.
As Hyperliquid has become an increasingly popular place for traders to focus on derivatives, Intercontinental Exchange Inc, the parent of the New York Stock Exchange, and CME Group have warned regulators of potential risks. Bloomberg.
The outlet said, citing people familiar with the discussions, that the two companies have raised concerns with the CFTC about the Hyperliquid trading platform—which could be used by insiders or legal entities.
DEX, based in Singapore, operates without know-your-customer (KYC) requirements, while banning users from the United States and Ontario, Canada. This form shows many programs Decentralized Financeor DeFi, like Polymarket.
The concerns come as Hyperliquid has seen a sharp rise in trading volume the eternal future tied to oil prices since the United States and Israel attacked Iran nearly two and a half months ago – a conflict that continues to squeeze energy supplies.
Because Hyperliquid is unregulated, ICE and CME say they fear that oil prices could be distorted negatively, undermining the integrity of the market that charges the price of goods and services related to shipping and transportation.
The Hyperliquid Policy Center acknowledged in its X post that “The US law has not been reorganized for markets from public groups like Hyperliquid,” saying that it is willing to continue working with policymakers in Washington on regulatory issues.
It was created In February, the organization invested $29 million in the value of the native brand Hyperliquid, with the aim of serving as a legal source for lawmakers. The Hyperliquid Policy Center bills itself as the leading independent research and development organization on DeFi in the US
Since the start of the conflict in the Middle East, Hyperliquid has made a total of $21.51 billion worth of trading in futures tied to Brent crude, according to the data platform. Garlic. Unlike futures contracts that have a fixed term, perpetual futures can be traded forever, as long as the seller maintains the right criteria.
As of Friday, Brent futures on Hyperliquid had the highest contracts of $ 306 million, or 3.4% of the open interest of Hyperliquid. At this time, the future bound by the price of Bitcoin represents $2.2 billion in value, or 24% of the open interest.
The price of the Hyperliquid token was slightly changed on Friday at $ 44.67, according to CoinGecko. While the price of various altcoins has struggled amid what many fear is a long-term decline in crypto prices, the digital asset is up 75% in the past year.
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