CZ Says Trump’s Hyperliquid Push Should Benefit the Entire Crypto Industry

Binance founder Changpeng Zhao (CZ) has weighed in on President Donald Trump’s push to bring Hyperliquid into the United States, arguing that any regulatory framework created for the platform should ultimately apply across the wider crypto industry.

“Policy cannot be applied to only one company/project. What’s good for one is good for the rest of the industry,” CZ wrote on X on Thursday.

His comments followed Trump’s announcement that Commodity Futures Trading Commission (CFTC) Chairman Michael Selig is working on a way to bring Hyperliquid into the US in a “fully compliant and legal fashion.” Trump made the remarks during a meeting with cryptocurrency and technology industry leaders at the White House on Wednesday.

Hyperliquid is one of the largest blockchain-based platforms for trading perpetual futures, allowing users to trade leveraged contracts without expiration dates. However, US residents are currently restricted from using the platform because of regulatory limitations.

CZ’s argument is that if US regulators develop a workable framework for Hyperliquid and other on-chain derivatives platforms, the rules should not be limited to a single company. Instead, the framework could create a clearer regulatory pathway for competing decentralized exchanges and other crypto projects.

That possibility has already attracted attention across the crypto market. Hyperliquid’s native HYPE token surged following Trump’s comments, with the token gaining more than 17% over a 24-hour period at one point.

The potential US entry of Hyperliquid could therefore have implications well beyond the platform itself. A regulatory pathway for on-chain perpetual markets could open the door for other decentralized trading platforms to seek access to American users under similar conditions.

CFTC Chairman Selig has previously expressed support for finding a way to bring on-chain markets into the US regulatory system. In a June interview, he said regulators wanted to create a pathway that would allow such markets to operate while complying with US regulations.

The development also comes as the Trump administration pushes for broader changes to US financial regulation. An executive order issued in May called for regulations to be updated to facilitate financial innovation and the integration of digital assets and blockchain technology into traditional financial services.

For CZ, however, the bigger issue is consistency.

If Washington succeeds in creating a legal framework that allows Hyperliquid to operate in the US, he believes the benefits should extend to the broader crypto sector rather than creating a special regulatory advantage for one project.

The outcome could become an important test of how the US approaches decentralized finance—and whether regulators are prepared to create rules that apply to an entire category of crypto businesses rather than individual platforms.