ICE to Run Regulated US Perpetual Futures Market on Hyperliquid

The entry of a major exchange group into perpetual futures on a crypto-native venue signals that regulated infrastructure is converging with DeFi-style derivatives, a shift that matters for both traditional market operators and crypto platforms competing for institutional flow. Druckenmiller's disclosed stake in the partner startup adds credibility, but the real test is whether US regulators and institutional participants embrace never-expiring contracts. Whether this model attracts meaningful volume beyond the current crypto derivatives base is the open question.