Hyperliquid Policy Center dismissed concerns raised by Intercontinental Exchange (ICE) and CME Group about market integrity risks on its decentralized exchange. The DEX argued that its transparent, public blockchain transactions deter insider trading and manipulation, contrary to claims of pseudonymous trading risks. ICE and CME reportedly alerted the CFTC, fearing that unregulated oil perpetual futures on Hyperliquid could improperly sway oil prices and compromise traditional market benchmarks. Since the US-Israel attack on Iran, Hyperliquid has seen $21.51 billion in notional Brent crude perpetual futures volume. The DEX lacks KYC requirements but restricts US and Ontario users. The Policy Center, funded with $29M in Hyperliquid tokens, expressed willingness to work with US policymakers, noting that current US law is not tailored for public blockchain derivatives markets.

Key facts

• ICE and CME raised market integrity concerns about Hyperliquid to the CFTC.
• Hyperliquid argues its public ledger deters insider trading and manipulation.
• Since Iran conflict, Hyperliquid saw $21.51B notional Brent crude perpetual volume.
• No KYC requirements, but US and Ontario users are restricted.
• Policy Center, funded with $29M, seeks to engage US policymakers.