CME and NYSE lobby CFTC against Hyperliquid amid USDC liquidity risks
CME Group and Intercontinental Exchange are lobbying the CFTC to regulate Hyperliquid, a decentralized derivatives platform. They express concerns over potential market manipulation and the platform's reliance on Circle's stablecoin. Hyperliquid currently dominates the on-chain derivatives market with significant open interest and trading volume.
- ▪CME Group and Intercontinental Exchange are pushing for tighter regulations on Hyperliquid.
- ▪The platform controls approximately 53% of fees in the on-chain derivatives sector.
- ▪Hyperliquid processes more perpetual futures volume than all other decentralized competitors combined.
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<img src="https://static.cryptobriefing.com/wp-content/uploads/2026/05/17191641/concerns-are-unfounded-hyperliquid-rejects-wall-street-s-man-1-800x420.jpeg" alt="CME and NYSE lobby CFTC against Hyperliquid amid USDC liquidity risks" class="w-full aspect-[19/10] object-cover" /> CME and NYSE lobby CFTC against Hyperliquid amid USDC liquidity risks Traditional exchanges want regulators to crack down on the dominant on-chain derivatives platform, but the real vulnerability may be its deep dependence on Circle's stablecoin. Share Add us on Google by Editorial Team May. 17, 2026 Two of the largest traditional exchanges in the world are asking US regulators to put a leash on a decentralized platform that didn’t exist a few years ago.
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