CZ Says Hyperliquid’s U.S. Entry Could Open Door for More Decentralized Exchanges

Highlights:

• CZ says a compliant U.S. path for Hyperliquid could benefit decentralized exchanges and the wider crypto industry.
• Trump says CFTC Chairman Michael S. Selig is working to bring Hyperliquid into the United States legally.
• HYPE jumped 23.11% in 24 hours as trading volume surged 424.16% to $1.33 billion after Trump’s remarks.

Binance co-founder Changpeng Zhao, known as CZ, says a legal U.S. path for Hyperliquid could benefit the wider crypto industry and help more decentralized exchanges reach American users. CZ made the comments in an X post on August 20 after U.S. President Donald Trump said Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig is working to bring Hyperliquid into the United States in a “fully compliant and legal fashion.” The CFTC identifies Michael S. Selig as its current chairman.

Hyperliquid is a decentralized trading platform known for crypto perpetual futures. Unlike traditional centralized exchanges, decentralized exchanges, or DEXs, allow users to trade through blockchain-based systems without relying on the same centralized structure.

Many people miss the bigger picture. Policy cannot be applied to only one company/project. What's good for one is good for the rest of the industry. https://t.co/9jWYCwciIR

— CZ 🔶 BNB (@cz_binance) August 20, 2026

CZ Sees Hyperliquid’s U.S. Entry as a Win for Crypto

CZ welcomed Trump’s comments and said he strongly supports a regulatory path that could allow Hyperliquid to serve the U.S. market properly. He also addressed the perception that his connection with Binance makes him focused mainly on centralized exchanges. CZ said he entered the crypto industry because he believes in decentralization and sees Hyperliquid’s potential U.S. entry as a broader opportunity for the sector.

According to CZ, the impact could extend far beyond one platform. If regulators create a workable path for Hyperliquid, other decentralized exchanges and blockchain-based financial services could potentially follow a similar route. “This is not just about Hyperliquid,” CZ said, describing the platform as the starting point for a much larger shift. He added that wider access to decentralized services could also benefit companies in his investment portfolio and strengthen competition across the crypto market.

U.S. Crypto Market Could Gain More Liquidity

CZ also believes clearer access for global crypto platforms could improve liquidity in the United States. More liquidity generally means buyers and sellers can trade more easily without causing large price changes. He argued that greater competition between decentralized platforms and centralized exchanges could ultimately give U.S. consumers better prices when buying or selling cryptocurrencies.

Trump’s remarks came on August 19 as U.S. regulators continued to expand their approach to crypto derivatives. During the same discussion, Trump noted that the CFTC had authorized the first “true” Bitcoin perpetual futures contract on a CFTC-registered exchange. The CFTC has also moved to bring more crypto derivatives activity under U.S. regulatory oversight.

However, Trump did not say Hyperliquid had already received approval to operate in the United States. Instead, he said CFTC Chairman Michael S. Selig is working to bring the platform into the country in a “fully compliant and legal fashion.” No launch date, final approval, or detailed regulatory framework for Hyperliquid was announced.

Hyperliquid’s native token, HYPE, also rallied after Trump’s remarks. At the time of writing, HYPE was trading at $71.96, up 23.12% over the past 24 hours, according to CoinMarketCap. Its 24-hour trading volume surged 443.2% to $1.34 billion, showing a sharp increase in market activity alongside the price rally.