ICE CEO: Hyperliquid “bigger pass Nasdaq” as perps dey face regulation gap

ICE CEO Jeffrey Sprecher tok for Bernstein conference say Hyperliquid na "bigger pass Nasdaq" for trading activity, and na only small core team dey behind am. E describe Hyperliquid as leader for decentralized perpetual futures, wey don grab over 70% share for decentralized perp-DEX market. Sprecher point out say Hyperliquid 24/7 derivatives access na major growth driver, including oil derivatives wey dem dey trade on weekends when ICE traditional markets dey closed. E also link the recent rise in interest from non-crypto participants to volatility wey Middle East tension dey cause. The next catalyst na regulation. Sprecher argue say Hyperliquid dey operate like offshore venue wey people dey see as unregulated, and this one create level playing field issue compared to U.S. swaps under Dodd-Frank (Title VII). E expect say policymakers go decide whether perpetual futures need new regulated category or make offshore venues come under existing U.S. Dodd-Frank and EU EMIR frameworks. For traders, Hyperliquid momentum dey support risk-on activity for perps, but regulatory timetable fit quickly change venue access, liquidity flows, and basis/perp risk—this one fit raise near-term volatility around any policy milestones. Hyperliquid HYPE don also report say e don up about 140% year-to-date, outperform BTC and ETH.