trade.xyz and Hyperliquid urge CFTC to regulate energy perps

TREE NEWS reports: trade.xyz and Hyperliquid have filed a comment letter with the CFTC, urging the establishment of a regulated US market path for energy perpetual contracts and 24/7 trading. They highlight that during recent oil market disruptions, energy markets remained open while benchmark markets closed, and about two-thirds of price moves occurred on-chain. The letter proposes leverage limits, clear disclosure of funding rates and liquidation mechanisms, and allowing compliant markets to use on-chain infrastructure.