CME & NYSE Reportedly Move to Rein In Hyperliquid, But Why?
BeInCrypto
CME Group and ICE are reportedly urging US regulators to increase oversight of Hyperliquid due to concerns regarding market manipulation and sanctions compliance.Summary
CME Group and the Intercontinental Exchange (ICE) are reportedly lobbying US regulators to tighten scrutiny on the decentralized derivatives platform Hyperliquid. Traditional financial incumbents are concerned about potential market manipulation and the platform's ability to facilitate trade with sanctioned entities. Unlike traditional exchanges, which act as neutral intermediaries, Hyperliquid utilizes an internal liquidity provider called HLP that effectively acts as a counterparty to traders, creating a distinct risk model that contrasts with legacy financial infrastructure.
(Source：BeInCrypto)