Hyperliquid (HYPE) Surges 26% as Trump Signals Potential U.S. CFTC Path

Hyperliquid (HYPE) token jumped 26.2% to around $73.63 on Thursday morning after U.S. President Donald Trump said the Commodity Futures Trading Commission (CFTC) is working to bring Hyperliquid into the United States. 

The statement triggered a sharp rally in HYPE as traders priced in the possibility of regulated U.S. access to the decentralized perpetual futures exchange.

Speaking at a White House gathering of crypto and technology executives on August 19, Trump credited CFTC Chair Mike Selig with leading efforts to onboard Hyperliquid under federal oversight. 

“I understand that [Commodity Futures Trading Commission Chair] Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion,” Trump told the media during the press conference.

Trump did not detail what a compliant U.S. version of the platform would look like or confirm any formal CFTC approval. Selig said he would share more on the regulatory path forward on August 20, timed to the CFTC's first Innovation Advisory Committee meeting in Washington.

The market reaction extended beyond HYPE. Shares of Hyperliquid Strategies (PURR), the public vehicle holding HYPE tokens, jumped as much as 32.4%. 

Options activity in PURR surged, with call contracts accounting for the overwhelming majority of reported activity, according to the market data provided for the move.

Traditional exchange stocks moved in the opposite direction. Cboe Global Markets (-3.5%), CME Group (-1.69%) shares came under pressure as traders considered the potential competitive impact of a compliant U.S. perpetual-futures venue.

Trump’s statement does not constitute final CFTC approval for Hyperliquid. It indicates that U.S. regulators are considering a potential regulatory pathway for the platform to operate in the United States.

The timing is notable. The CFTC’s first Innovation Advisory Committee meeting is scheduled for August 20, shortly after the White House meeting.

Hyperliquid has already drawn attention from U.S. regulators. CFTC filings from 2026 show that U.S.-listed derivatives products tied to HYPE are under consideration, suggesting the asset is already moving into the regulated financial-market infrastructure.

A compliant U.S. pathway for Hyperliquid could reshape competition between on-chain derivatives platforms and established exchanges.

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