The Better Hyperliquid Trade Wednesday Was on the Nasdaq, Not Onchain
Hyperliquid Strategies (PURR) closed 30.4% higher on Wednesday, outpacing the gain in Hyperliquid (HYPE) token's price after President Donald Trump said regulators are working to bring the exchange onshore.
The Nasdaq-listed company holds HYPE as a digital asset treasury. Its shares moved further on the news than the token sitting on its balance sheet.
Hyperliquid Treasury Stock Rose 30%, the Token It Holds 18%
Trump spoke at a White House meeting with crypto and financial executives on Wednesday. He credited Commodity Futures Trading Commission (CFTC) Chair Mike Selig with the effort.
"I understand that Mike (Selig) is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion," Trump said.
Hyperliquid currently operates outside the US and does not officially serve American traders. A regulated US presence would open it to a far larger pool of customers and capital.
Meanwhile, Trump's remarks lifted HYPE 18.6% to around $69.22. The HYPE treasury stock did better.
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