CFTC Approval Boosts Hyperliquid and Market Dynamics
- The CFTC approved KalshiEX’s BTCPERP on May 29, marking the first Bitcoin perpetual on a US-regulated exchange.
- Coinbase gained a path to connect U.S. customers to options and perps globally through Deribit, with no-action relief allowing use of Bitcoin, Ethereum, and stablecoins as margin collateral.
- Hyperliquid surged over 30% following the CFTC announcement, reaching an all-time high at $73.50.
- Binance announced plans for non-U.S. users to trade over 7,000 U.S. stocks and ETFs.
- The U.S seized $1 billion in crypto from Iran, marking the largest seizure from a hostile state since the Bitfinex hack in February.
The CFTC’s approval of Bitcoin perpetual contracts on a regulated exchange is pivotal for the crypto market, enhancing liquidity and regulatory clarity in the U.S., as seen by Hyperliquid’s price surge and market enthusiasm for legal perps.
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