us regulation

SEC closes public comment period for crypto asset rule proposal after about 140 submissions
SEC to Hold Roundtable on Machine-Readable Data in the Age of Superintelligence on Nov. 9
CFTC adviser says Reg CAM would offer crypto platforms an optional federal oversight path
Atkins says SEC will keep advancing crypto market rules after CLARITY setback
BIS paper says banks can slow stablecoin adoption by raising deposit rates
Court filings show Telegram shared user data with U.S. authorities
CFTC chair says agency has exclusive jurisdiction over prediction markets
Hyperliquid
2026-10-16 11:00:00

Hyperliquid Founder Jeff Yan Says the Goal Is Not to Replace Wall Street but to Build the AWS of Finance

Hyperliquid Labs co-founder and CEO Jeff Yan used a Bloomberg Odd Lots interview on Oct. 15, 2026 to lay out the clearest public version yet of how he sees Hyperliquid: not as an on-chain version of a centralized exchange, but as a neutral protocol designed to host financial activity at scale. In the interview with Joe Weisenthal and Tracy Alloway, Yan said the market often misunderstands Hyperliquid as "on-chain Binance," when the real aim is a blockchain with a globally shared state, maintained by permissionless validators, that can support order books, liquidation systems and liquidity across many asset classes. Yan also detailed the platform’s market deployment model. To become a deployer, users must stake 500,000 HYPE tokens, not $500,000 worth of HYPE, and then win access through an on-chain Dutch auction held every 31 hours. He argued that protocol-level rules should remain mechanical rather than subjective, pointing to a hard 1% constraint between oracle price updates instead of any built-in judgment about whether a market is sufficiently liquid. On regulation, Yan said U.S. users accessing Hyperliquid derivatives through a VPN are violating the terms of service, and he argued that regulation should apply to deployers — the parties with control over market rules — rather than to the protocol itself. He also described Hyperliquid’s long-term ambition in familiar infrastructure terms: not replacing Wall Street, but becoming the AWS-like base layer on which financial systems are built.

180
Hyperliquid Founder Jeff Yan Says the Goal Is Not to Replace Wall Street but to Build the AWS of Finance