Hyperliquid has emerged as the focus of attention at the SALT crypto conference in Jackson Hole, with Fortune describing it as a rising crypto heavyweight and a potential major threat to Coinbase, Kraken and Robinhood. The platform has operated offshore since launching in 2023 but is accelerating efforts to establish a regulated U.S. business. Its advantages over offshore companies that have struggled in the U.S. market include U.S.-born CEO Jeff Yan, reported support from Trump and influential figures including the CFTC (U.S. derivatives regulator) chairman for perpetual futures, and a team that includes Schamis, who brings decades of traditional-finance credibility, and prominent crypto lawyer Jake Chervinsky, who has worked to establish a legal framework for DeFi (decentralized finance) in the United States. Fortune compared Hyperliquid's potential rise with Binance's sudden emergence in 2017.