Hyperliquid In Talks To Enter US Via Kraken's Parent Company

Hyperliquid Labs is in advanced talks with Kraken’s parent company Payward to bring its perpetual futures to U.S. traders, sending Hyperliquid up 5% to fresh all-time highs Monday.What the Deal Would Actually Look LikeBloomberg reported Monday that Payward’s subsidiary Bitnomial, a US-regulated digital asset exchange and clearinghouse, would give its registered users access to a subset of Hyperliquid’s crypto-linked perpetual futures.Payward has already presented the CFTC with a proposal outlining the basic structure, according to people familiar with the matter.The core issue holding Hyperliquid out of the U.S. has always been its permissionless design. With no central operator, anyone with internet access can trade on the platform freely, which has kept regulators wary over concerns about market manipulation and sanctions evasion.By routing access through Bitnomial, the arrangement gives the CFTC the compliance framework it needs to approve a US launch. Financial terms were not disclosed and both sides declined to comment.Why This Matters Beyond HyperliquidBloomberg noted that a successful deal could become the template for other offshore crypto platforms trying to enter the U.S. market legally.Hyperliquid as measured by Hyperliquid Strategies Inc ) already handles more than $4 billion in daily trading volume but remains completely off limits to US customers, making a compliant US entry a major commercial unlock for the platform.That regulatory opening traces directly to President Donald Trump’s Aug. 19 statement that CFTC Chairman Mike Selig is working to bring Hyperliquid into the US in a fully compliant way.The CFTC reinforced that direction publicly, telling Bloomberg that failing to keep pace with financial and technological change risks ceding the US’s reputation as the global hub of financial innovation.HYPE Price Analysis: Key Levels to WatchHYPE is up 5% on the session and breaking cleanly above the ascending trendline that has guided the move since the January low near $20.The eight-month uptrend shows no structural breaks, with the 20-day and 50-day EMAs both rising well below as support.Meanwhile, RSI at 68.51 has cooled slightly from a recent peak above 80, keeping momentum intact without flashing extreme overbought conditions. There is no defined overhead resistance above current price.Key levels for HYPE:$84.89 — session high, uncharted territory above$74.17 — 20-day EMA, first support on any pullbackImage: Shutterstock