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Point of Focus
- HYPE jumped around 16% after Trump backed efforts to bring Hyperliquid into the US legally.
- CFTC Chair Mike Selig is exploring a compliant pathway using existing regulations.
- Hyperliquid Strategies shares surged more than 30%.
HYPE surged about 16% after US President Donald Trump said Commodity Futures Trading Commission (CFTC) Chair Mike Selig was working to bring the Hyperliquid trading platform into the United States under a compliant regulatory structure.
Speaking at a White House event with technology and cryptocurrency industry leaders, Trump said the initiative would seek to introduce Hyperliquid “in a fully compliant and legal fashion.”
The comments sent HYPE from around $62 to an intraday high of $72.30, placing the token close to record levels.
Hyperliquid Strategies, a publicly traded company holding HYPE tokens, also rallied by more than 30%. Meanwhile, shares of traditional exchange operators, including Cboe Global Markets, Miami International Holdings, and CME Group, declined following the announcement.
Hyperliquid eyes regulated US market entry
Hyperliquid has become a leading venue for perpetual futures, leveraged derivatives contracts that do not have an expiry date. US residents are currently restricted from using the decentralized trading platform.
Trump’s remarks suggest that federal regulators are exploring how Hyperliquid could enter the US without waiting for entirely new legislation. David Schamis, CEO of Hyperliquid Strategies, said the company had been discussing possible market access with the CFTC and described the regulator as responsive.
TRUMP: SEC CHAIR WORKING TO BRING HYPERLIQUID INTO US.
Hyperliquid. pic.twitter.com/a6JUudBmID
— Outcome (@Outcomexyz) August 19, 2026
Schamis added that presidential support made the initiative appear to be a government priority. However, he said any launch may need to operate within existing rules because passing new cryptocurrency legislation remains difficult.
Trump also highlighted Selig’s authorization in May of what he described as the first “true” Bitcoin (BTC) perpetual futures contract offered through a CFTC-registered exchange.
Options activity surges around announcement
Trading activity in Hyperliquid-linked securities increased sharply as the news emerged. Options volume reportedly reached nearly eight times its 30-day average, with more than 120,000 call contracts changing hands compared with fewer than 8,000 puts.
About $10 million in options premiums traded during the session.
JUST IN: $HYPE pumps 17.8% to $70 after Donald Trump said the CFTC is working on bringing Hyperliquid to the US. pic.twitter.com/BPCkMmz3CB
— CoinGecko (@coingecko) August 19, 2026
Some of the largest transactions occurred about 30 minutes after Trump’s statement, including the purchase of 2,000 November and December calls for roughly $510,000.
Unusually heavy call buying was also recorded before the public announcement. Nearly $2 million in calls traded before 3 pm ET, raising questions among market observers about the timing. However, no evidence of improper trading has been established.
Policy shift could reshape derivatives market
A compliant US launch could give Hyperliquid access to one of the world’s largest pools of institutional and retail capital. It could also intensify competition with established derivatives exchanges.
The announcement arrived during a broad crypto rally, with Bitcoin reaching its highest level since June. Coinbase gained almost 10%, while Strategy rose nearly 13%.
🚨 TRUMP JUST PUT HYPERLIQUID ON THE U.S. RADAR
President Trump said CFTC Chair Michael Selig is working to bring Hyperliquid into the U.S. “in a fully compliant and legal fashion.”
The market reacted fast:
• $HYPE +17–20%
• $PURR +30%+
• Hyperliquid-linked ETFs +20%
• A… pic.twitter.com/gjk8VjBe4E— Hyperliquid Daily (@HYPERDailyTK) August 20, 2026
Despite the positive reaction, a US launch is not yet guaranteed.
Hyperliquid would still need to satisfy registration, market surveillance, investor protection, and Anti-Money Laundering requirements before offering regulated services to American users.
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