Hyperliquid is challenging traditional finance by expanding its blockchain infrastructure to offer 24/7 perpetual futures trading for traditional asset classes. The platform currently commands 40% of onchain perpetual volume, generating $13.5 million in weekly fees as decentralized trading grew from 1% to 14% of centralized exchange volume. In response, the Hyperliquid Policy Center and Phantom have urged the U.S. CFTC to update its rulebooks and exempt protocol developers and non-custodial wallets from registration requirements designed for traditional intermediaries.
