President Donald Trump has publicly backed efforts to bring Hyperliquid, a fast-growing offshore cryptocurrency trading venue, into the United States under federal rules.
Speaking at a White House gathering of crypto, technology, and finance executives on August 19, 2026, Trump said Commodity Futures Trading Commission (CFTC) Chairman Michael Selig is working to accomplish that goal “in a fully compliant and legal fashion,” adding that officials are “working very hard on that.”
The remark immediately drew attention because Hyperliquid has become one of the most active on-chain platforms for perpetual futures, contracts that let traders take leveraged bets on assets such as cryptocurrencies, commodities, and even private companies without a fixed expiration date.
The platform has generally blocked US users, leaving a large share of that activity outside American regulation.
Trump’s comment signaled that the administration wants at least some version of that market infrastructure brought onshore rather than left abroad.Hyperliquid’s rise has unsettled parts of traditional finance.
Incumbent derivatives exchanges have watched volume migrate to a non-custodial, always-on venue that does not operate under the same customer-protection and reporting rules that govern US futures markets.
At the same time, supporters argue that on-chain systems can settle trades faster, display positions more transparently, and attract global liquidity.
Trump’s statement placed the White House behind the idea that those features should be available to American participants only if they can be fitted into existing law.No approval has been announced.
Trump did not describe a specific structure, license, or timetable.
Officials have not said whether Hyperliquid itself would register as a US exchange, whether a separate domestic product would use its technology and liquidity, or whether access would come through an already regulated intermediary.
Later reporting noted that one possible path could involve a CFTC-registered platform offering selected perpetual products linked to Hyperliquid’s markets, rather than opening the existing offshore venue to US residents.
The political context matters.
The administration has pressed Congress to pass market-structure legislation that would clarify how digital assets are divided between the CFTC and the Securities and Exchange Commission (SEC).
Trump used the same White House event to urge lawmakers to move a version of that bill, arguing that clearer rules would keep the United States competitive.
Selig has separately said the agency wants a lawful route for on-chain venues even if legislation stalls.
Markets treated the comment as a policy signal rather than a finished deal. Assets tied to the platform rose sharply in the hours after the remarks, while some traditional exchange stocks slipped.
That reaction reflected both optimism about future US access and uncertainty about how a non-custodial protocol would satisfy know-your-customer, surveillance, and customer-fund rules that apply to regulated derivatives markets.
The core issue is now practical.
Bringing a high-volume perpetual futures venue into the United States would require decisions about leverage limits, listing standards, bankruptcy treatment, and who is legally responsible when something goes wrong. Those questions will determine whether Trump’s stated preference becomes a limited partnership with existing US platforms or a broader rewrite of how on-chain trading is supervised.