News linked to both this project and an event.
Odaily Planet Daily reported that Lorenzo Valente, Head of Digital Asset Research at investment firm ARK Invest, stated that Hyperliquid is in discussions with the CFTC and SEC to facilitate the offering of perpetual futures on its public chain by U.S.-regulated companies. He suggested that Hyperliquid acquire Gemini to position it as a U.S.-regulated HIP-3/4 deployer. He noted that Gemini's current market value is approximately $450 million, representing a decline of over 85% from its $3.3 billion valuation at the time of its 2025 IPO. Hyperliquid could obtain Gemini's entire U.S. regulatory infrastructure—including the NYDFS Trust Charter, DCM, DCO, FCM, MTLs, and Broker-dealer—for approximately $450 million.He further proposed that Hyperliquid could use approximately 7.9 million HYPE tokens from its community reserve, valued at around $550 million at $70 per token, to complete the acquisition at a premium of roughly 20% over Gemini's current market value. Following the transaction, Gemini would handle KYC, custody, fiat on/off ramps, brokerage, clearing, and compliance for the U.S. market, while Hyperliquid L1 would provide the underlying market infrastructure, liquidity, and on-chain settlement. He cited Polymarket's acquisition of QCEX as a similar precedent for re-entering the U.S. market, and stated that the core of this potential deal is not acquiring an exchange, but rather securing the regulatory bridge for HIP-3/4 to enter the U.S. market.
Trasia Labs has announced the completion of a $1.75 million seed funding round, with Multicoin Capital as the sole institutional investor. The project is a perpetual contract trading platform natively built on Hyperliquid, primarily targeting the Asian market. It is currently connected to the native perpetual market on Hyperliquid in a non-custodial manner, with plans to later launch its own perpetual contracts based on the HIP-3 protocol.
According to Hyperinsight monitoring, Zhipu AI (ZHIPU) has been declining continuously since hitting a peak of approximately 17x its IPO price on May 29; it fell another 15.22% over the past 24 hours to $256.81, leading declines in the Hyperliquid HIP-3 market.
OdailyOdaily reported that after SpaceX was listed on Nasdaq last Friday at a valuation of over $1.7 trillion, trading volume surged for the SpaceX-related HIP-3 perpetual contract SPCX on Hyperliquid. Data shows that the xyz:SPCX trading pair reached a daily turnover of $1.4 billion, accounting for 30% of all HIP-3 trading volume that day.In comparison, during the three weeks before the SpaceX IPO, the average daily trading volume of xyz:SPCX was only about $26 million, indicating that the IPO event significantly amplified trading activity for on-chain equity-linked derivatives.Looking at the broader HIP-3 ecosystem, the cumulative turnover for equity-linked perpetual contracts in the first half of June has already exceeded $18.8 billion, significantly higher than the combined $7.66 billion for crude oil and Brent crude oil perpetual contracts.This suggests that as highly anticipated stocks like SpaceX enter the on-chain trading arena, platforms such as Hyperliquid are becoming key gateways for crypto users to gain exposure to traditional assets, with activity in equity perpetual contracts already surpassing that of some traditional commodity markets.
Ventuals today announced it will gradually shut down its operations and integrate into the Hyperliquid ecosystem team, marking the official conclusion of its 24/7 private market experiments. The platform, which focuses on trading pre-IPO private tech companies, had raised over 500,000 HYPE tokens and achieved a total trading volume of approximately $650 million.The platform's existing HIP-3 markets are now entering the settlement phase. Pre-IPO markets such as OpenAI and Anthropic are settling based on a 24-hour weighted average price, with corresponding prices of $1,341.80 and $1,618.90 respectively. Commodity and index markets including MAG7, semiconductors, and energy will be suspended in batches starting June 18, with open positions being auto-liquidated.vHYPE holders can redeem their staked assets at a 1:1 ratio and claim corresponding rewards. Withdrawal services will be initiated in batches starting June 19, with processing times ranging from 7 to 72 hours. The project has terminated its points and promotional activities and has clearly stated that no tokens will be issued. Officials require all users to complete fund withdrawals and wallet export operations by September 15.
decentralized derivatives platform Hyperliquid has launched a pre-listing perpetual contract for SpaceX (SPCX-USDC) via Trade.xyz, sparking controversy over a global regulatory gap. The contract provides leveraged trading without requiring users to hold any SpaceX stock or authorization from the company. Initially priced at $150, corresponding to an implied valuation of approximately $1.78 trillion, the contract surged to $216 shortly after launch.According to reports, the contract is settled in USDC, with prices derived from market oracles and not linked to SpaceX's actual financials or equity structure. SpaceX itself has neither authorized nor participated in this market, yet its valuation is being priced and traded in real-time on-chain, raising concerns that "decentralized derivatives are taking over price discovery for private companies." This market originates from Hyperliquid's HIP-3 mechanism, suggesting that private company valuations may increasingly be re-priced by on-chain derivatives, while regulatory frameworks have yet to establish corresponding standards. (Forbes)