Hyperliquid Conquers the US – Trump and the CFTC Pave the Way for the Crypto Derivatives Market

Imagine waking up one morning to find that the crypto market suddenly has a new address: the United States. Sounds crazy? Maybe not for much longer. Hyperliquid, the rising DeFi derivatives giant, could soon open its doors to US citizens—thanks to a potential regulatory pause under a second term of Donald Trump. The markets are already in turmoil, and I don’t blame them. Finally, the door to one of the world’s largest markets for decentralized finance could swing wide open.
Hyperliquid: The Silent Revolutionary in the DeFi Universe
Hyperliquid has become one of the most exciting projects in the crypto space over the past few years. While others are still debating legacy exchanges and brokers, Hyperliquid has already taken a different path: it enables the trading of crypto derivatives—futures, options, perpetual contracts—directly on the blockchain. No middlemen, no traditional exchanges, just code ensuring transparency and censorship resistance.
With over $30 billion in daily trading volume (as of mid-2024), Hyperliquid is already a heavyweight. Yet, until now, US citizens have been left watching as the world moves ahead without them. The CFTC, the US regulatory authority, has imposed strict rules on crypto derivatives that make access difficult for retail traders. But that could change—and for good reason.
Trump, the CFTC, and a Possible Regulatory Tsunami
Speculation about a possible return of Donald Trump to the White House has electrified the crypto world. Trump, who has shown himself to be crypto-friendly in the past—just think of his Bitcoin donations during the 2024 campaign—could instruct the CFTC to reconsider its stringent rules. And that would have enormous implications.
Especially explosive: The CFTC has already sued Hyperliquid, alleging that the company sold derivatives to US customers without the required licenses. But if the regulator finds a consensual solution under a new administration, Hyperliquid’s doors could swing wide open. And that would be more than just a victory for Hyperliquid—it would be a victory for the entire DeFi industry.
The Markets Celebrate—and I Understand Why
The market reaction was no surprise. Not only Hyperliquid stands to benefit from this development—decentralized trading platforms like GMX or dYdX are also seeing rising trading volumes. The message is clear: If the US finally opens its doors to decentralized derivatives, it could mark a turning point for global crypto adoption.
Analysts like Benjamin Cowen see this as an opportunity for the entire sector. “If the US finally opens its doors to decentralized derivatives, it could mar



k a turning point for global crypto adoption,” he recently said in an interview. And he’s not wrong. The US is not just the world’s largest financial market—it’s also a symbol of regulation and control. If Hyperliquid succeeds in gaining a foothold there, it could pave the way for many other projects.
But Beware: Not Everything Is Set in Stone
Yet as promising as the outlook may be, there are still hurdles to overcome. Hyperliquid would need to ensure its smart contracts and trading mechanisms comply with US regulations. The CFTC may demand additional compliance measures to prevent money laundering or market manipulation.
Another challenge: So far, Hyperliquid operates exclusively on the Ethereum blockchain. For US approval, a switch to a US-compliant blockchain or a partnership with regulated entities might be necessary. This is no small feat, and it remains to be seen whether Hyperliquid is prepared to take on this task.
What Does This Mean for Investors?
For all crypto and DeFi enthusiasts, Hyperliquid’s entry into the US market could bring several advantages:
1. More Liquidity: US citizens would gain access to a highly liquid derivatives market, making price discovery more efficient.
2. Innovation Through Competition: Hyperliquid’s arrival could put pressure on established players like Binance or Bybit, leading to better terms for traders.
3. Strengthening the DeFi Ecosystem: A success for Hyperliquid in the US could encourage other decentralized projects to explore the market.
Yet caution is warranted: Experts warn against excessive optimism. Even if Trump and the CFTC give the green light, the process could take months or even years. Moreover, it remains unclear whether Hyperliquid is even interested in operating in a highly regulated environment.
A Historic Moment—But Far From Certain
Bringing Hyperliquid to the US markets would be a historic moment for the crypto industry. It would demonstrate that decentralization and regulation need not be opposing forces—but can instead create synergies. The market’s reaction is understandable: Such a development could propel not only Hyperliquid but the entire sector forward.
But until then, much remains speculative. The CFTC, Congress, and, above all, the US election in November will decide whether the dream of a crypto-friendly US becomes reality. One thing, however, is certain: The blockchain community will be watching this process closely—and if necessary, innovating further even without official approval. After all, we’ve learned one thing in recent years: The best ideas prevail, no matter how many obstacles stand in their way.