Hyperliquid news

Hyperliquid’s native token HYPE surged 13% as traders flocked to its HIP‑3 platform over the US‑Iran war weekend, pushing open interest above $1.1 billion. The permissionless perpetual‑futures system, launched last year, enabled synthetic trading of oil, gold, silver and U.S. equities, generating $4.4 billion in February weekend volume. The surge drew praise from BitMEX co‑founder Arthur Hayes, but the platform’s lack of KYC and broker‑dealer licensing raises potential SEC and CFTC scrutiny. Despite regulatory risks, HYPE topped the top‑20 crypto list, trading above $30.

Hyperliquid experienced a 13% rally as traders turned to its blockchain-based derivatives amid the US‑Iran war, with open interest surpassing $1.1 billion on its HIP‑3 platform. The upgrade allows permissionless perpetual futures on any asset with a public price feed, provided a 500,000‑token stake, drawing weekend volume of $4.4 billion and nearly $5.5 billion total open interest. HYPE token gained 13 %, topping the top‑20 crypto performers. However, lack of KYC and broker‑dealer licensing could expose the platform to SEC and CFTC scrutiny.

Based, a web3 trading and payments app built on Hyperliquid, raised $11.5 million in Series A led by Pantera Capital, with Coinbase Ventures, Wintermute Ventures and Karatage participating. The funding will support expansion into AI‑driven “agentic commerce” and further development of its SuperApp that bundles trading, wallet, on‑ and off‑ramp and crypto‑Visa card services. Since launch, it has over 100 k registered users, 30 k monthly active users, $40 billion in trading volume and $14 m revenue, largely from builder fees and card services. The firm also offers “Based Cloud” for partners to build trading frontends such as HyENA, and plans to hire AI engineers and legal counsel as it moves toward AI financial agents and broader payment solutions.

Hyperliquid has launched the Hyperliquid Policy Center, an advocacy group in Washington, DC, to push regulated pathways for decentralized finance. The organization was founded by veteran crypto lawyer Jake Chervinsky, former policy chief at the Blockchain Association. The center will focus on perpetual derivatives and blockchain infrastructure, arguing that the U.S. must adopt new rules to let crypto thrive or risk falling behind other nations. Hyperliquid’s CEO Jeff Yan said the move comes at a 'critical time' for policy discussions.

Hyperliquid has launched the Hyperliquid Policy Center (HPC), an independent research and advocacy group funded with $29 million in HYPE tokens, to represent decentralized finance on Capitol Hill. Jake Chervinsky, former Variant chief legal officer and Blockchain Association staffer, will serve as CEO. The center will focus on DeFi and derivatives, especially perpetual futures, and counters Senate proposals that would subject DeFi front‑ends to KYC and registration requirements. Co‑founder Jeff Yan said the launch gives Hyperliquid a unified voice in policy debates at a critical time.

Hyperliquid has launched the Hyperliquid Policy Center, a Washington, D.C. nonprofit backed by 1 million HYPE tokens worth about $29 million, to shape U.S. regulation of decentralized finance. The group will focus on rules for decentralized exchanges, perpetual futures and blockchain‑based market infrastructure. Led by former Blockchain Association policy head Jake Chervinsky, the center will brief lawmakers, publish technical research and advocate for DeFi‑friendly rules. Hyperliquid’s exchange, which last month processed more than $250 billion in perpetual futures, joins a crowded Washington crypto‑policy scene as Congress debates oversight of crypto derivatives.

Hyperliquid Foundation donated 1 million HYPE tokens, roughly $29 million, to establish the Hyperliquid Policy Center, a DeFi advocacy group lobbying for clearer U.S. regulations on Capitol Hill. Led by Jake Chervinsky, the center aims to shape policy that supports decentralized finance, positioning Hyperliquid—a decentralized perpetual futures exchange that competes with exchanges like Coinbase—as a new voice in Washington. The initiative arrives as lawmakers continue to debate the CLARITY Act and other crypto legislation, with unresolved issues such as stable‑coin rewards keeping regulatory clarity out of reach. Hyperliquid’s involvement adds fresh representation to U.S. crypto lobbying.

Hyperliquid has launched a $28 million DeFi Policy Center led by crypto lawyer Jake Chervinsky, positioning the company in Washington's policy arena. The center, funded with 1 million HYPE tokens (~$28 million), will advise Congress and federal agencies on DeFi regulation and develop a legal framework for perpetual derivatives. Hyperliquid's initiative reflects a broader trend of crypto firms moving from generic advocacy to targeted policy engagement, potentially setting a benchmark for industry-regulatory balance.

Tether invested in Dreamcash, a mobile front‑end for the Hyperliquid DEX, enabling USDT0‑collateralised perpetual markets for various real‑world assets. The first USDT0 markets launched cover the S&P 500, gold and silver, and stocks like Tesla, Nvidia, Google, Amazon, Meta, Robinhood, Intel and Microsoft. Tether’s funding will support a $200,000 weekly incentive program that rewards traders based on USDT trading volume; the investment size was not disclosed. Dreamcash, built by Supreme Liquid Labs, uses Hyperliquid’s HIP‑3 standard to allow third‑party front‑ends to create markets with a 500,000 HYPE token bond; Hyperliquid normally trades in USDC.

Hyperliquid Strategies Inc. posted a net loss of $317.9 million for the six months ended Dec 31, 2025, largely driven by $262.4 million in unrealized losses on its HYPE token holdings, a $35.6 million IPR&D write‑off tied to its merger with Sonnet, and a $17.8 million increase in deferred tax expense. Total assets stood at $616.7 million, with $589.8 million in equity and no debt. Revenue for the period was modest, comprising $0.9 million in interest income and $0.5 million in staking earnings from HYPE. The treasury has used $129.5 million to acquire an additional 5 million HYPE tokens, bringing its holdings to 17.6 million (1.83 % of the supply), and $10.5 million to repurchase 3 million PURR shares, reducing the diluted share count to 150.6 million. It maintains $125 million in deployable capital and a $1 billion equity line of credit. HYPE’s price was around $28 on Wednesday, down 2 % and more than 50 % below its all‑time high of $59.30. The Hyperliquid blockchain, which hosts a dominant perpetuals DEX, generated over $800 million in annual fees and high trading volumes. CEO David Schamis remains optimistic about the ecosystem’s expansion and future fee generation.