Binance Hit by $6.4B Hack as Hyperliquid Opens U.S. Perps

The collision of these two events matters more than either alone: a record exchange breach landing on the same day a regulated U.S. perpetuals venue opens hands the compliance-first argument a timely test case. The immediate read is a trust question for centralized custody, not a verdict on Hyperliquid, whose launch narrative is now buried under someone else's failure. What's worth watching is whether the breach shifts attention and flows toward regulated onshore venues, or whether the market treats it as a Binance-specific incident and moves on.