HYPE jumps 20% as Trump signals legal US path for Hyperliquid

The move hinges on a policy signal rather than any concrete regulatory action, which makes the rally a bet on future access rather than a response to a confirmed change. For Hyperliquid, US-compliant access would matter most for the depth and legitimacy of its perp markets, and for the broader RWA and DeFi sector it would test whether a major offshore venue can be brought onshore without gutting its model. The open question is whether the CFTC follows the president's remarks with an actual framework, and how much of the 20% holds if that process stalls.