CME, NYSE lobby Washington to regulate Hyperliquid over manipulation and sanctions fears

Searching...

HYPE declined about 6% after the announcement, dropping from more than $45 to under $43.

Share

Two major US exchange powerhouses are moving against a top decentralized trading venue. Reports surfacing on Friday claim that the Chicago Mercantile Exchange and New York Stock Exchange are calling on US authorities to regulate Hyperliquid due to concerns about market manipulation and possible sanctions evasion.

Hyperliquid’s native HYPE token slipped approximately 6% in reaction to the development, moving from above $45 to below $43, per CoinGecko. It has a market cap of around $10.3 billion, making it the 13th-largest crypto asset globally.