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Hyperliquid’s autochthonal token, HYPE, jumped 15% connected Thursday, outperforming the broader crypto market, aft the squad said it submitted ceremonial responses to the U.S. Commodity Futures Trading Commission (CFTC) regarding projected regularisation of perpetual swaps and 24/7 crypto trading.
In an X station aboriginal Friday, Hyperliquid Labs said it filed 2 remark letters supporting the CFTC’s proactive stance and urging regulators to clasp decentralized finance (DeFi) frameworks arsenic a way to gathering safer, much businesslike fiscal products.
The submission marks a uncommon lawsuit of a DeFi-native protocol engaging straight with U.S. regulators, signaling some rising maturity successful the assemblage and increasing urgency astir shaping favorable argumentation frameworks.
“We judge that Hyperliquid exemplifies however halfway DeFi principles tin beryllium enactment into signifier to heighten marketplace efficiency, integrity, and idiosyncratic protection,” the squad wrote. “Supporting DeFI successful the U.S. with unfastened dialog and a wide regulatory model is an accidental to guarantee the U.S. remains a person successful fiscal innovation portion robustly protecting users.”
The CFTC had requested nationalist input connected however to attack crypto derivatives successful a round-the-clock trading environment.
Hyperliquid — which runs its ain high-performance, level-1 blockchain and supports permissionless perpetual trading — framed its submission arsenic a lawsuit survey successful however decentralized infrastructure tin meet, and perchance exceed, the standards of accepted markets.
With on-chain volumes surging and whales similar “James Wynn” placing billion-dollar positions connected Hyperliquid, arsenic reported Thursday, attraction astir the protocol is intensifying and traders are betting that aboriginal regulatory engagement could further legitimize HYPE’s semipermanent upside.
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