Hyperliquid founder urges US focus on market operators for regulatory access

Hyperliquid founder Jeff Yan has advocated for U.S. regulatory frameworks to focus on market operators rather than the blockchain itself. The proposal aims to facilitate legal access to Hyperliquid in the United States by shifting compliance obligations to identifiable operators. This development emerges as Hyperliquid, a decentralized perpetual-futures protocol, experiences a slight decline in its HYPE token value, which is currently priced between $76 and $78. The market has been observing a 20% drop from its September all-time high of $98.04, highlighting ongoing regulatory challenges and market dynamics. Key Takeaways Jeff Yan’s proposal suggests U.S. regulatory frameworks should focus on market operators, not blockchain technology, potentially influencing future market sentiment. Hyperliquid’s HYPE token has seen a 1%–3% drop over 24 hours, priced around $76–$78, with continued pressure from regulatory uncertainties. The market for Hyperliquid reaching $100 by year-end shows a 29% YES probability, down from 37% the previous day, which appears consistent with mixed sentiment on regulatory clarity. What to Watch Market participants will be closely monitoring any regulatory devel...