Hyperliquid founder Jeff Yan urges US regulators to target market operators, not blockchains
In an interview on Bloomberg's Odd Lots podcast, Hyperliquid co-founder Jeff Yan argued that US regulatory oversight should focus on financial firms operating markets rather than the underlying blockchain network.
Hyperliquid co-founder and CEO Jeff Yan argued that US regulators should treat the protocol's Layer 1 blockchain as financial infrastructure rather than a traditional exchange. Speaking on Bloomberg's Odd Lots podcast, Yan said regulatory obligations should fall on the specific entities that deploy, control, and operate trading markets on the network rather than the underlying blockchain itself.[1][2][3][6][7]
Yan framed regulation as the next major hurdle for Hyperliquid, proposing a structure that would allow the protocol to serve as a shared liquidity and trading layer without bearing the full compliance burdens of a traditional exchange. Rather than trying to displace Wall Street institutions, Yan said the network aims to supply them with trading technology and infrastructure as American authorities evaluate how to integrate offshore crypto trading venues into the domestic financial framework.[1][2][4][5]
Bloomberg reported that Payward, the parent company of Kraken, intends to offer derivatives to US investors using Hyperliquid technology via a regulated exchange. While Hyperliquid itself remains unavailable to users in the United States, such third-party deployments illustrate how institutional participants could interface with its infrastructure under existing regulatory frameworks.[1][2]
Key facts
- Jeff Yan made his podcast debut in an interview on Bloomberg's Odd Lots hosted by Tracy Alloway and Joe Weisenthal.
- Yan argued that US regulation should target market operators exercising control over trading platforms rather than Hyperliquid's underlying Layer 1 blockchain.
- Yan stated that Hyperliquid aims to provide trading technology and infrastructure for Wall Street institutions rather than replace them.
- Kraken parent Payward plans to offer derivatives to US investors through a regulated exchange utilizing Hyperliquid technology.
- Hyperliquid remains unavailable to users based in the United States.
Sources · 7 sources
- WB
Wu Blockchain@WuBlockchainPost on X ·
Hyperliquid Founder Jeff Yan Says US Regulation Should Target Market Operators, Not the Underlying Blockchain Hyperliquid founder Jeff Yan told Bloomberg's Odd Lots podcast that US regulators should treat Hyperliquid's Layer 1 blockchain as financial infrastructure rather than a traditional exchange, with regulatory obligations falling on firms that deploy and operate markets on the network. Yan argued that oversight should apply to entities exercising control over those markets, allowing the protocol to function as a shared liquidity and trading infrastructure layer. Bloomberg noted that Kraken parent Payward plans to offer derivatives to US investors using Hyperliquid technology through a regulated exchange. Yan said Hyperliquid aims to provide infrastructure for Wall Street institutions rather than replace them. Hyperliquid remains unavailable to US users.
Open source - VH
Vikingos.hl@VikingoDigital_Post on X ·
Jeff on Bloomberg's Odd Lots podcast about Hyperliquid. > Regulation is the next big challenge for Hyperliquid. US regulation should focus on market operators rather than the underlying blockchain. > Hyperliquid aims to provide infrastructure for Wall Street institutions, not replace them. Bloomberg also noted that Kraken's parent company, Payward, plans to offer derivatives to US investors through a regulated exchange using Hyperliquid technology.
Open source - CO
CoindeskArticle ·
Hyperliquid founder wants U.S. oversight of trading platforms, not his blockchain Jeff Yan told Bloomberg that U.S. regulatory oversight should apply to the firms using the blockchain, not to the underlying network itself.
Open source - CO
CoinGape@CoinGapeMediaPost on X ·
🔥 INSIGHT: @HyperliquidX founder Jeff Yan says the network aims to supply trading technology to financial institutions rather than replace Wall Street firms, per Bloomberg. https://t.co/C31jmfCazL
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🔥 INSIGHT: Hyperliquid founder Jeff Yan says the network aims to supply trading technology to financial institutions rather than replace Wall Street firms, per Bloomberg. https://t.co/2vW0a5n3y9
Open source - JW
Joe Weisenthal@TheStalwartPost on X ·
NEW ODD LOTS: It’s the podcast debut for Jeff Yan @tracyalloway and I have an ultra-rare interview with the CEO and co-founder of Hyperliquid Labs about his plan to house the world’s entire financial system https://t.co/qZg80EzgOh
Open source - BL
Bloomberg@businessPost on X ·
Hyperliquid Founder Yan Seeks US Rules That Spare Its Blockchain https://t.co/Kh2mQ0p9bx
Open source