SpaceX · Elon Musk · Bitcoin · Wall Street · Decrypt
NYSE Parent Isn't 'Freaked Out' by Hyperliquid—It's Learning From the Crypto Perps Giant
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Hyperliquid has become a wake-up call for traditional markets, prompting discussions with the crypto venue, studying its 24/7 model, and asking regulators whether U.S. exchanges can offer similar perpetual futures under clear rules.
Key facts
- Traders are already using perpetual futures to bet on SpaceX’s expected listing price months before a potential IPO, with those contracts averaging nearly $18 million in daily volume over two weeks
- Hyperliquid has become a wake-up call for traditional markets, prompting discussions with the crypto venue, studying its 24/7 model, and asking regulators whether U.S. exchanges can offer similar
- That’s according to Jeffrey Sprecher, founder, chairman and CEO of Intercontinental Exchange, who spoke at a fireside chat during Bernstein’s 42nd Annual Strategic Decisions Conference on Wednesday
- ICE’s talks with Hyperliquid show Wall Street is taking on-chain derivatives more seriously, Fernando Lillo, marketing director at crypto trading platform Zoomex, told Decrypt
Summary
ICE and Hyperliquid are learning from each other’s models and operations, ICE CEO Jeffrey Sprecher said. Sprecher said SpaceX perps may test whether crypto prices matter before IPOs. The CFTC on Friday approved Bitcoin perpetual futures on prediction market platform Kalshi. That’s according to Jeffrey Sprecher, founder, chairman and CEO of Intercontinental Exchange, who spoke at a fireside chat during Bernstein’s 42nd Annual Strategic Decisions Conference on Wednesday.