Key Highlights: Paragon’s HYPE² power perpetual is designed to deliver convex exposure to the price of HYPE without a strike price or expiry date. A 20% rise in HYPE translates into roughly a 44% gain in the HYPE² index before funding fees. Leverage significantly increases risk: a 2× long HYPE² position is liquidated after an ...
Key Highlights: A subsidiary of Hyperliquid Strategies has applied for a Futures Commission Merchant (FCM) license with the CFTC to clear permissioned HIP-3 perpetual futures markets for US retail accounts. Reported net income reached $620.6 million, but was driven by $803.0 million in unrealized $HYPE token gains; underlying pre-tax operating income stood at just $5.2 ...
Key Highlights Industry observers, including Cumberland’s Wilson, have raised concerns over Hyperliquid’s push into the U.S. market, citing transparency trade-offs, potential front-running via priority fees, and order book fragmentation. Hyperliquid is exploring paths to enter the United States via partnerships and deployer perpetuals (HIP-3) involving Kraken, Intercontinental Exchange (ICE), and Trade [XYZ]. Despite regulatory and ...