Changpeng ‘CZ’ Zhao Claims CFTC Policy Bullish for Entire Crypto Industry, Not Just Hyperliquid
Highlights
- Changpeng Zhao comments on bigger picture of CFTC bringing Hyperliquid to US.
- CZ claims CFTC policy to benefit entire crypto market, not one project.
- Hyperliquid (HYPE) skyrockets 25% and broader market witnesses a recovery.
Binance founder Changpeng ‘CZ’ Zhao on Thursday said many people missed the bigger picture of the CFTC bringing Hyperliquid to the United States. He claimed the policy would benefit the whole crypto industry rather than a single project.
Changpeng ‘CZ’ Zhao Reacts to CFTC Bringing Hyperliquid to US
CZ’s comments came after President Donald Trump revealed that CFTC Chair Michael Selig is working to bring the decentralized perpetual futures exchange Hyperliquid into the U.S. market.
Changpeng Zhao highlighted that CFTC policy cannot be limited to one company or project. He asserted that many observers are missing the bigger picture and that “what’s good for one is good for the rest of the industry.”
During the SALT Conference’s Wyoming Blockchain Symposium, CZ said “This is not just about Hyperliquid. There will be so many Perp DEX’s & decentralized services available to US users…This is hugely positive for everyone in the industry.”
Notably, the CFTC has already taken significant steps earlier to approve certain perpetual-style contracts on registered exchanges and issue related guidance. As CoinGape reported earlier, even prediction market Kalshi launched Hyperliquid perpetuals trading.
Hyperliquid and Broader Crypto Market Recovery
President Trump made the comments during a White House meeting with crypto and technology executives. He highlighted efforts by CFTC Chair Mike Selig to bring Hyperliquid in a compliant way.
The statement triggered an immediate market response, causing HYPE price to skyrocket sharply by 17%. Over the last 24 hours, HYPE price has extended gains more than 25% to $73.
Hyperliquid has attracted Wall Street attention regarding on-chain perpetual futures support, offering high leverage and deep liquidity. US users were largely limited from decentralized derivatives products due to regulatory constraints.
Changpeng ‘CZ’ Zhao and his family office YZi Labs-backed Aster decentralized perpetual exchange also witnessed massive demand. ASTER price jumped more than 12%, currently trading at $0.671.
Notably, the broader crypto market has recovered, with market cap rising almost 9% to $2.46 trillion. Bitcoin price reclaimed $72K level, up more than 11%, and Ethereum (ETH) rallied almost 20% to $2,276.
To understand how these platforms operate, traders can explore our curated guide on the top perpetual futures trading platform options available globally.
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