Stan Druckenmiller said on October 29 that he invested in Trade[XYZ], which develops perpetual futures, or derivatives without expiry dates, on Hyperliquid. The disclosure coincided with Intercontinental Exchange, the parent company of the New York Stock Exchange, announcing a final agreement with Trade[XYZ] to launch a regulated, 24/7 U.S. venue using its technology and make a strategic investment in the company. ICE later deleted its original post announcing the partnership, while Trade[XYZ]’s announcement remained live as of October 31. ICE’s website announcement also remained online, and no official explanation was provided for removing the post, raising questions about the collaboration’s status. The proposed products would track stock indexes, commodities and currencies and use separate clearing, customer-identification and anti-money-laundering systems. Regulatory approval remains pending. Druckenmiller did not disclose his investment amount; he said he was excited about the investment and hoped it would improve his investment process. Galaxy described the message as his first-ever post on X. His investment is consistent with a mixed view of crypto: In a Morgan Stanley interview, he questioned crypto’s role as a store of value while recognizing practical applications for blockchain and stablecoins.