Hyperliquid sees 35% drop in quarterly trading volume as RWA perpetuals quietly take over

Robinhood's rapid DEX volume surge highlights the volatile influence of memecoins and Layer 2 tech on decentralized finance dynamics. The post Robinhood surpasses Hyperliquid in 24-hour DEX volume, powered by memecoins and a brand-new Layer 2 appeared first on Crypto Briefing.

The post Hyperliquid Urges CFTC to Exempt DeFi From Legacy Rules in July 9 Filing appeared on BitcoinEthereumNews.com. Hyperliquid News The Hyperliquid Policy Center (HPC), together with non-custodial wallet provider Phantom, has formally asked the US Commodity Futures Trading Commission (CFTC) to stop treating decentralized finance like traditional financial intermediaries. The joint comment, filed ahead of the agency’s July 9 deadline, argues that on-chain protocol software and self-custody wallets are tools, not brokers, and that the derivatives rulebook was never written for them. The filing responds to a Request for Information the CFTC issued on June 18, which invited the industry to identify rules that obstruct financial technology. HPC frames the submission as squarely within the commission’s existing authority to act. The comment lays out three concrete requests. First, it asks the CFTC to confirm that publishing on-chain protocol code does not, by itself, require registration

Modernizing CFTC rules could foster US-based onchain derivatives innovation, reducing offshore reliance and enhancing market efficiency. The post Phantom and Hyperliquid urge CFTC to modernize onchain derivatives rules appeared first on Crypto Briefing.

The post CZ Compares Binance KYC With Hyperliquid Model appeared on BitcoinEthereumNews.com. CZ says Binance’s weak KYC led to prison while Hyperliquid runs no-KYC smart contracts under a different trading model. Binance founder Changpeng Zhao, known as CZ, discussed Hyperliquid in a June 29 interview with The Block.  He praised its market design but noted clear differences from centralized exchanges. CZ said Hyperliquid uses smart contracts without standard identity checks for users. He compared that model with Binance’s past compliance problems. He said he went to prison over Binance’s weak KYC controls. Meanwhile, he noted that Hyperliquid operates without KYC. His comments have renewed debate around exchange rules, user freedom, and decentralized trading. The discussion also places Hyperliquid’s control structure under market attention. CZ Compares Binance and Hyperliquid CZ said Hyperliquid has introduced useful ideas for on-chain trading. However, he said its model differs from B

The post Phantom and Hyperliquid Seek CFTC Clarity on DeFi Infrastructure appeared on BitcoinEthereumNews.com. Crypto wallet provider Phantom and the Hyperliquid Policy Center have urged the US Commodity Futures Trading Commission (CFTC) to exempt blockchain protocol developers and non-custodial wallet providers from regulations designed for traditional financial intermediaries. In response to a CFTC request for information on regulations affecting fintech firms, the companies asked the agency to confirm that blockchain protocol developers do not have to register solely for creating onchain software, issue guidance allowing regulated derivatives firms to use blockchain infrastructure, and codify exemptions preventing non-custodial wallet providers from being treated as introducing brokers. The companies argued that existing CFTC regulations were designed for custodial financial intermediaries that hold customer assets and process trades, while onchain protocols allow users to transact

The post Hyperliquid, Phantom Ask CFTC to Exempt DeFi From Broker Rules appeared on BitcoinEthereumNews.com. The joint filing asks regulators to turn Phantom’s March no-action relief into a formal rule covering all non-custodial wallet providers. The Hyperliquid Policy Center and wallet provider Phantom filed a joint comment with the Commodity Futures Trading Commission on Thursday, arguing the agency’s registration rules for exchanges and brokers should not apply to onchain protocol software or non-custodial wallets, according to HPC’s own post on X. The filing responds to a request for information the CFTC and SEC issued jointly in mid-June, seeking industry input on rules that hinder financial-technology innovation. Three Requests HPC and Phantom laid out three asks. First, confirmation that publishing onchain protocol software alone does not trigger registration as an exchange or clearinghouse. Second, a clear path for firms already registered with the CFTC to run regulated functio

The joint filing asks regulators to turn Phantom's March no-action relief into a formal rule covering all non-custodial wallet providers.

The companies urged the regulator to exempt blockchain developers and non-custodial wallet providers from rules designed for traditional financial intermediaries.