CME CEO: trade.xyz's Impact on the US Market Mirrored by Hyperliquid

BlockBeats News, August 21st - Terry Duffy, Chairman and CEO of the Chicago Mercantile Exchange (CME) Group, stated this morning at the CFTC Innovation Advisory Committee meeting that trade.xyz and Hyperliquid are having a significant impact on the U.S. market.

trade.xyz is a key market builder on the Hyperliquid chain, focusing on perpetual contracts for stocks, commodities, Pre-IPO, and other assets, with its trading volume accounting for a significant share of Hyperliquid's volume. Duffy has previously expressed concerns about the leverage and regulatory issues of such offshore platforms.

Furthermore, Duffy also engaged in a heated debate with CFTC Chairman Michael Selig and Kalshi COO Luana Lopes Lara regarding prediction market regulation. Duffy stated that some prediction market contracts are at risk of manipulation, especially those contracts listed through self-certification. He pointed out that contracts related to the content of Trump's State of the Union address and the timing of Maduro's ouster in Venezuela may have manipulation issues, which he noted are detrimental to the entire industry.