CME and NYSE Push for U.S. Regulatory Oversight of Hyperliquid
The HYPE token had surged as much as 20% yesterday after Coinbase and Circle announced a new partnership with Hyperliquid. As CoinGape reported, Coinbase will become the official USDC treasury deployer for the DEX platform. Meanwhile, the CME and NYSEs push for U.S. regulation of Hyperliquid comes as the Perp DEX continues to gain market share with its 24/7 derivatives platform. Notably, the DEX has its HIP-3 markets, which enable traders to trade traditional assets such as stocks and commodities, which the CME and NYSE offer. The move from these TradFi giants has drawn a reaction from members of the crypto community, who have indicated that they are simply looking to attack the competition. On-chain sleuth ZachXBT noted that it was interesting that the NYSE only has an issue with Hyperliquid but not with Polymarket. This came as he highlighted the NYSEs stake in Polymarket. “Never mind, it all makes sense now,” he concluded. Hyperliquid is also in competition with Polymarket as the Perp DEX recently rolled out the HIP-4 upgrade on mainnet, which enables the creation of outcome markets. Bitwise HYPE ETF Goes Live The Bitwise Hyperliquid ETF has gone live amid the move from the CME and NYSE. In a press release, the