Hyperliquid starts DeFi lobbying group in U.S. with $29 million HYPE token backing
Blockchain exchange Hyperliquid launched the Hyperliquid Policy Center, a U.S. lobbying group backed by $29 million in HYPE tokens.Summary
Hyperliquid, a rapidly growing blockchain-based exchange specializing in perpetual futures, has established the Hyperliquid Policy Center, a Washington, D.C.-based nonprofit focused on shaping U.S. regulation for decentralized finance (DeFi). Jake Chervinsky, a prominent crypto lawyer, will serve as the founder and CEO of this new lobbying and research arm.
The launch occurs amid ongoing debates in Congress and federal agencies regarding the oversight of crypto trading platforms and derivatives. Hyperliquid operates by allowing users to trade perpetual futures directly on-chain without central intermediaries. Chervinsky stated that financial markets are moving to public blockchains for efficiency and resilience, urging the U.S. to adopt new rules or risk falling behind.
The Hyper Foundation is funding the initiative with 1 million HYPE tokens, valued at approximately $29 million, making it a significantly funded entrant into the crowded Washington crypto-policy landscape, which includes groups like the DeFi Education Fund and the Blockchain Association.
(Source：CoinDesk)