WuBlockchain
CME Group and Intercontinental Exchange (ICE) have taken the unusual step of lobbying U.S. regulators directly against a crypto competitor, urging the CFTC and members of Congress to tighten oversight of Hyperliquid. The Singapore-based decentralized derivatives platform's anonymous trading environment, they warn, could be weaponized to distort global oil prices — a market where even small manipulative flows can ripple across energy costs worldwide.
The two incumbent exchange giants reportedly raised specific concerns that Hyperliquid's permissionless structure could be exploited by corporate insiders with non-public information or, more gravely, by sanctioned state actors seeking to move markets without leaving a traceable footprint. The CFTC has jurisdiction over U.S. commodity derivatives, and any formal inquiry could mark a significant escalation in regulatory scrutiny of offshore…
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