Hyperliquid, a decentralized exchange where traders made over $250 billion worth of bets last month alone about the prices of cryptocurrencies going up or down, has opened a lobbying office in Washington with one clear mission—get the U.S. government to write friendlier rules for crypto.
The group, called the Hyperliquid Policy Center, went public on Wednesday. Jake Chervinsky, a well-known crypto lawyer who previously ran policy at the Blockchain Association, will lead the effort as founder and CEO. To initiate the process, Hyperliquid’s nonprofit division contributed one million of its own HYPE tokens, which are currently valued at approximately $29 million. That is more money than what most of Washington’s existing crypto lobbying groups spent in all of 2024.
Why Does This Matter to Regular People?
Think of Hyperliquid as a betting platform for financial markets, except it runs entirely on computer code with no bank or middleman in the middle. The trades it handles, called perpetual futures, let people place big leveraged bets on asset prices without an expiry date. These products are hugely popular worldwide but sit in a legal gray zone in the U.S., meaning American regulators have never clearly said whether they are legal or not.
Chervinsky put it bluntly—America either writes the rulebook now or watches other countries do it first. The center aims to lobby for rules designed around how crypto actually works rather than old-fashioned financial regulations that were never built with blockchain in mind.
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