Hyperliquid Co-Founder Jeff Yan Heads to Washington, Seeking US Market Entry via HIP-3 Partners

November 3: According to Bloomberg, Hyperliquid co-founder Jeff Yan met with policymakers in Washington. He said entry into the US market should come through HIP-3 partners accepting US KYC and market supervision requirements, rather than Hyperliquid itself. Hyperliquid began testing a revised HIP-3 framework with identity verification support in September. Kraken parent company Payward announced the same month that it plans to use this framework to offer Hyperliquid perpetual contracts to US users. ICE has reached an agreement with and invested in Trade.xyz, intending to bring its perpetual contracts to the US after obtaining regulatory approval. Hyperliquid generated $713 million in revenue over the past 12 months, with real-world asset trading volume exceeding $115 billion in July.