Hyperliquid backs 24/7 crypto trading in CFTC comments submission
Hyperliquid, a decentralized perpetuals exchange on its own layer-1 blockchain, has submitted two comment letters to the CFTC regarding 24/7 derivatives trading and perpetual derivatives. The exchange emphasizes its commitment to advancing decentralized finance (DeFi) and enhancing market efficiency, integrity, and user protection. CFTC Commissioner Summer Mersinger indicated that regulatory approval for crypto perpetual futures contracts could occur soon, with expectations for products to begin trading live shortly. Perpetual futures allow speculation on crypto asset prices without ownership and remain open indefinitely, aligned with spot market prices through a funding rate mechanism. The crypto derivatives market is experiencing significant activity, with Coinbase acquiring Deribit and Gemini receiving regulatory approval to expand derivatives trading in Europe. DeFi platform Synthetix plans to re-acquire the crypto options platform Derive.
