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Following
HYPE Hyperliquid's regulatory ownership in Singapore sparks controversy
Regulatory issues surrounding decentralized trading platform Hyperliquid seem to be heating up. According to reports, Singapore authorities stated that although the platform claimed that its corporate headquarters were located in this city-state, Singapore did not have jurisdiction over it.
The HKMA questions the regulatory positioning of Hyperliquid.
According to the Financial Times reported on October 7, the Monetary Authority of Singapore (MAS) stated that it has not been informed that Hyperliquid is regulated in any major jurisdiction and has previously warned investors that its perpetual contracts are not within the scope of its supervision.
Sources familiar with the Singapore Monetary Authority's thinking told the Financial Times that given the decentralized nature of Hyperliquid, regulators believe the platform is not based in Singapore. This means that even if its corporate legal entity is located in that country, the agreement may still be outside the jurisdiction of the Singapore Monetary Authority.
Hyperliquid Labs confirmed to the Financial Times that it is headquartered in Singapore. Even in a job advertisement posted last week, the company asked if job seekers could work in their Singapore office, and relevant documents listed Singapore as the location of its registered headquarters.
On the issue of licenses, the company also stated its position. The statement stated that Hyperliquid is not regulated and "never claims to have permission or authorization from the Monetary Authority of Singapore," while emphasizing that the company respects the role of regulators and is committed to maintaining communication with them.
这一区分之所以引人注目，是因为该协议已发展成为一个规模可观的交易场所。根据截至10月6日过去12个月的数据，Hyperliquid Financials显示其协议收入为7.305亿美元，运营净收入为7.237亿美元。第三季度总永续衍生品交易量达到7164亿美元，而季度末未平仓合约价值为164亿美元。
HYPE活动随HIP-3扩展而增长
就在平台通过基于部署者的永续合约系统HIP-3拓宽可用市场类型之际，监管问题随之浮现。在TOKEN2049新加坡大会上，创始人Jeff Yan表示，HIP-3市场的交易量在7月的某个时段曾占总交易量的约51%。Hyperliquid Financials数据显示，第三季度HIP-3占总永续衍生品交易量的比例为36.6%，高于第二季度的32.7%。
Yan指出，用户正转向以前难以获取的金融产品链上版本，例如与原油等资产挂钩的永续合约以及首次公开募股（IPO）前市场。他将该项目描述为基础设施而非传统的交易前端，并表示：“没有人能与互联网竞争。”
作为平台原生代币的HYPE表现强劲，已远超其8月份创下的峰值。当时HYPE一度触及82美元的历史新高，并在9月23日接近98美元。然而，截至撰稿时，HYPE已从该历史高点回落超过7%，在24小时内下跌约2%，目前在91美元附近交易。
