Jeff Sprecher, founder and chief executive of Intercontinental Exchange, the roughly $90 billion exchange giant that owns the New York Stock Exchange, called decentralized exchange Hyperliquid "bigger than Nasdaq" at an investor conference this week, a rare endorsement of a crypto-native venue from one of the most powerful figures in traditional finance.

ICE CEO calls Hyperliquid decentralized exchange "bigger than Nasdaq" citing innovation in trading, leverage, and market dynamics.

ICE CEO Jeff Sprecher said Hyperliquid is bigger than NASDAQ and run by 11 people, highlighting the DeFi platform's $650M annualized revenue and rapid growth.