Back

Hyperliquid Says Concerns Over Its Perpetual Derivatives Market Are Unfounded

Hyperliquid Policy Center says on-chain transparency can reduce insider trading and manipulation risks after reports that ICE and CME urged tighter CFTC oversight as the platform expands into oil, metals, and weekend trading.

HYPE

Fact Check
All key elements of the claim are directly confirmed by primary and corroborating sources. The Hyperliquid Policy Center's own X post (x.com/HyperliquidPC/status/2055306265589354823) explicitly uses the word 'unfounded' to describe concerns about its perpetual derivatives market and cites on-chain transparency as the basis for that rebuttal - matching the claim precisely. The Financial Post article (sourced from Bloomberg reporting) independently confirms that ICE and CME lobbied the CFTC to restrict Hyperliquid, citing market manipulation risks in oil trading. TradersUnion and both Odaily newsflash articles further corroborate the platform's expansion into oil, metals, and 24/7 weekend trading. The claim accurately and faithfully summarizes the situation as reported across multiple independent outlets on 2026-05-15.
Summary

Hyperliquid Policy Center said criticism of its perpetual derivatives market is unfounded and argued that fully on-chain records provide real-time transparency that can reduce insider trading and price manipulation risks while allowing continuous monitoring. It also said 24/7 trading supports price discovery. The statement came after reports that ICE and CME urged U.S. regulators to tighten CFTC oversight as Hyperliquid expands into oil and metals trading and supports weekend markets. Hyperliquid added that U.S. law has no clear rules for derivatives markets built on public blockchains and said it welcomes engagement with Washington policymakers.

Terms & Concepts
  • Perpetual derivatives: Crypto-linked futures contracts without an expiration date, typically used to speculate on price movements with leverage.
  • On-chain: Activity or records that exist directly on a blockchain, making transactions and market data publicly visible and verifiable in real time.
  • Price discovery: The market process through which trading activity helps determine an asset’s current value.