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Binance founder Changpeng Zhao said potential US regulatory approval for Hyperliquid could open ‘a whole continent of people’ to decentralized crypto services, calling it ‘hugely positive for every industry.’ His comments followed President Trump’s Aug. 19 announcement that CFTC Chairman Michael Selig was working to bring the decentralized perpetual futures exchange onshore in a compliant manner. Zhao dismissed concerns about competition with Binance, arguing the market is ‘nowhere near saturated’ and that Hyperliquid’s entry would pave the way for broader decentralized finance adoption. HYPE, Hyperliquid’s native token, rallied approximately 40% after Trump’s remarks to an all-time high of $83.72, while the platform’s total value locked approached $6.9 billion.
Key Elements
Changpeng “CZ” Zhao, the billionaire founder of Binance, said a US push to bring decentralized exchange Hyperliquid onshore could benefit the entire crypto industry rather than just the platform itself, framing the potential regulatory breakthrough as a watershed moment for decentralized finance.
Speaking at the Wyoming Blockchain Symposium and in a subsequent interview published Tuesday, Zhao pushed back against the notion that his stake in Binance made him a partisan for centralized exchanges. “I got into this industry because I believe in decentralization,” he said.
His comments followed President Donald Trump’s remarks at an Aug. 19 White House event with crypto executives, where Trump said Commodity Futures Trading Commission Chairman Michael Selig was working to bring Hyperliquid into the United States “in a fully compliant and legal fashion.”
Zhao described the development as “hugely positive for every industry,” arguing that if Hyperliquid can enter the US market in a compliant way, it would open the door for many more decentralized services to reach American users. He characterized the platform as a first mover rather than a one-off. “Hyperliquid is the tip. Once this tip goes in, then everything else can follow through,” he said.
The shift, Zhao argued, would benefit perpetual DEXs, decentralized services, and international centralized exchanges alike through deeper US liquidity and better prices for traders. “What’s good for them is good for us,” he concluded.
In his interview with Anthony Scaramucci at SkyBridge Alternatives’ SALT conference, Zhao added that US access for Hyperliquid would open “a whole continent of people” to decentralized crypto services. He dismissed the idea that competition was the right lens through which to view the development. “It was a very clear case of why competition is not the right lens,” he said.
Zhao also argued the crypto market is “nowhere near saturated,” contending that early markets benefit from more competitors because they grow the total market. Crypto needs more exchanges and more businesses in general, he said, citing jurisdictions where the industry has little representation.
Hyperliquid is a decentralized exchange for perpetual futures, a type of crypto derivative that lets users trade directly from their wallets without the identity checks required by centralized platforms. That structure has made it popular but has also kept it offshore.
Market Reaction
Hyperliquid’s native token, HYPE, began rallying immediately following Trump’s Aug. 19 remark. The token has climbed approximately 40% since then, reaching an all-time high of $83.72 on Wednesday, according to data cited from Stocktwits, while the broader crypto market remained relatively muted.
The blockchain’s total value locked has risen to more than $6.8 billion, close to its chart high of around $6.9 billion. Daily fees reached roughly $12 million at their peak before settling between $1 million and $2 million
Retail sentiment around HYPE on Stocktwits remained in the “extremely bullish” zone, with message volume at “extremely high” levels over the past day.
For now, the path forward for Hyperliquid remains an intention rather than a done deal. But the signal from Washington, combined with the endorsement from one of crypto’s most prominent figures, points to a possible shift in offshore trading activity onshore.
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Source: finance.biggo.com