Binance founder Changpeng Zhao has defended President Donald Trump’s push to bring HyperliquidX into the United States legally. On X, Zhao argued that the White House’s effort to bring HyperliquidX onshore would not only benefit the platform, but could also have positive implications for the broader crypto industry.

Zhao stepped down as Binance’s chief executive in late 2023 as part of the exchange’s $4.3 billion settlement with US authorities over anti-money-laundering failures and later served a four-month prison sentence in 2024.

Popular content creator Jake Gagain cited Zhao’s remarks on X: “This is not just about Hyperliquid. There will be so many Perp DEXs and decentralized services available to U.S. users. This is hugely positive for everyone in the industry.”

The comments come after Trump said federal regulators are working on a path to bring Hyperliquid onshore in full alignment with US law. Speaking to a delegation of tech and crypto leaders at the White House on August 19, Trump specifically recognized Commodity Futures Trading Commission (CFTC) Chairman Michael Selig for leading the effort.

He said, “I understand Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion.”

Zhao says policy standards should apply across the industry

In another X post, Zhao said framework policies are created for an entire industry, meaning the standard set for one company should apply to all others in the sector. He wrote, “Many people miss the bigger picture. Policy cannot be applied to only one company/project. What’s good for one is good for the rest of the industry.”

The White House gathering included executives from Ripple, Coinbase, Robinhood, Kraken and Nasdaq, along with regulators Paul Atkins of the Securities and Exchange Commission (SEC), a former commissioner who returned to lead the agency, and Michael Selig of the CFTC. During the event, Trump drew particular attention to Hyperliquid, the leading decentralized perpetuals platform, which currently lists US residents as restricted users.

This was not the first time Hyperliquid had drawn attention in the crypto industry. In a June appearance on the Bankless podcast, Selig discussed questions about a US launch for the platform and said the technology would ultimately reshape markets.

“We want to create a path to bring these onchain markets into the United States and make sure they comply with some form of regulation,” Selig said.

Hyperliquid has been engaging with US regulators

While Washington is weighing steps to bring Hyperliquid to the US, the company has also been working to secure access to the American market.

In an earlier Cryptopolitan report, Hyperliquid was said to have maintained engagement with US regulatory bodies in an effort to create a viable path into domestic markets. Backed by the Hyper Foundation, the Hyperliquid Policy Center has been conducting policy research in Washington, D.C., with the explicit aim of legalizing regulated access to US on-chain perpetual contracts.

At present, regulation remains the main obstacle to Hyperliquid operating in the United States. Perpetual futures — derivative contracts with no expiry date that let traders hold leveraged positions on an asset’s price — are not technically outlawed in the US, but they remain incompatible with the execution and clearing requirements set out in the Commodity Exchange Act, the 1936 statute that requires derivatives to trade on registered exchanges and clear through registered clearinghouses.

Even so, US regulators have recently shown more willingness to adapt traditional oversight structures to accommodate perpetual-style derivatives within the legal financial system.

In May, the CFTC approved a spot Bitcoin perpetual contract and said it would evaluate other assets on a case-by-case basis. A month later, the agency asked the crypto community for input on two structural changes: continuous 24/7 trading for traditional futures and perpetual contracts for physical energy products such as crude oil.

A possible turning point for decentralized derivatives

A regulated US launch would mark a major turning point for the decentralized derivatives market. Hyperliquid is one of the largest on-chain perpetual trading platforms, running on its own purpose-built Layer-1 blockchain and allowing users to trade leveraged contracts without a centralized exchange.

Bringing such a platform into the US under a compliant framework would give regulators a chance to test whether decentralized financial infrastructure can operate within existing market rules.

The implications could extend beyond perpetual contracts. If regulators find an effective way to approve Hyperliquid, other decentralized exchanges and on-chain financial systems could also work with regulators. That could encourage more crypto companies to build products designed to meet US regulatory requirements rather than excluding American users.

Zhao’s comments point to a broader shift in Washington’s approach to decentralized finance, and the Hyperliquid case could set a precedent for how regulators treat other on-chain markets.

Trump also urges lawmakers to pass the CLARITY Act

At the same White House gathering, Trump was asked whether the government intends to buy Bitcoin in the near future. He pointed the question to the Securities and Exchange Commission for further guidance.

Trump also urged lawmakers to pass the CLARITY Act, a bill that has faced several delays and setbacks. He described it as “very powerful, structured legislation” that would help the US stay ahead of China and other countries. The legislation, formally the Digital Asset Market Clarity Act, would draw a clearer line between SEC and CFTC jurisdiction over digital assets and determine when a token is regulated as a security versus a commodity. It stands as the industry’s next major legislative test after the GENIUS Act, the stablecoin law Trump signed in July 2025, and its fate, alongside the CFTC’s ongoing review of perpetual-style contracts, will shape the framework any Hyperliquid US launch would need to fit.