HYPE token surges after Trump says CFTC is working to bring Hyperliquid to US in ‘fully compliant fashion’

President Donald Trump said Commodity Futures Trading Commission Chair Michael Selig is working to bring perpetuals-focused trading platform Hyperliquid into the U.S. in a "fully compliant and legal fashion" as the platform gains traction among traders.During a Wednesday press conference with technology leaders and federal agency chairs, Trump said the CFTC is working to bring perpetual futures markets onshore."I understand Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion," Trump said.Perpetuals, or perps, are a type of futures contract that don't have an expiration date and allow people to bet on the price movement of assets without owning them directly. They've become increasingly popular in crypto derivatives trading.The CFTC first opened the door for bitcoin perpetual futures contracts in the U.S. when its staff greenlit KalshiEX, LLC and Coinbase to list the products.Onchain perpetual platforms, like Hyperliquid, have surged in popularity as non-crypto traders increasingly turn to 24/7 markets to gain exposure to certain assets such as oil during off-market hours, JPMorgan analysts have said. However, some traditional exchanges such as CME and ICE have concerns that platforms like Hyperliquid could be used to manipulate prices and skew prices and want it to be registered with the CFTC, according to Bloomberg.In a June interview with Bankless, when asked about bringing Hyperliquid into the U.S., Selig said onchain technology like Hyperliquid will "transform our markets.""We want to create a path to bring these onchain markets into the United States and make sure they comply with some form of regulation," Selig said.Hyperliquid's native token (HYPE) surged on Trump's comment and is up 17% over the past 24 hours, according to The Block's price data. The 21Shares Hyperliquid ETF (THYP), Bitwise Hyperliquid ETF (BHYP), and Grayscale Hyperliquid Staking ETF (HYPG) similarly rose nearly 20% in Wednesday's session.Meanwhile, Nasdaq-listed Hyperliquid Strategies (PURR) also rose 30.4% on the day.ClarityOn Wednesday, Trump also urged lawmakers to pass the Clarity Act, a broad cryptocurrency bill that would regulate the industry comprehensively for the first time at the federal level."It's a very powerful, structured legislation, which will keep us ahead of China, keep us ahead of everyone else," Trump said.The bill, however, has faced repeated setbacks and has limited time to clear Congress before the end of the year.Several leaders were at the press conference, including Selig and Securities and Exchange Commission Chair Paul Atkins. Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, Nasdaq CEO Adena Friedman, Robinhood CEO Vlad Tenev and Kraken CEO Arjun Sethi, ICE CEO Jeffrey Sprecher, among others.At the end of the conference, Trump called participants into the Oval Office."We're going to show them a real office," Trump said.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.