Trump Confirms CFTC Push to Bring Hyperliquid to US, HYPE Surges Past $70

President Trump announced at a White House meeting with crypto and Wall Street executives on August 19 that CFTC Chair Mike Selig is actively working to bring decentralized perpetuals exchange Hyperliquid into the United States in a "fully compliant and legal fashion." The news sent HYPE, Hyperliquid's native token, surging past the $70 psychological level, with gains of as much as 17% in the immediate minutes following the remarks before settling around an 11% gain. The token approached its all-time high set roughly two months prior. Shares of Hyperliquid Strategies also jumped on the news.

Trump used the occasion to call on Congress to pass a "fair version" of the Crypto CLARITY Act, which has stalled in the legislature, and reaffirmed his goal of keeping the United States the "undisputed leader" in Bitcoin, crypto, prediction markets, and artificial intelligence. He also disclosed that the U.S. government is considering plans to purchase and accumulate "sizable" amounts of Bitcoin and other cryptocurrencies. Broader crypto-linked equities, including Strategy and Coinbase, rose during the session as the White House meeting signaled continued regulatory openness toward the industry.