Update
Hyperliquid Strategies Applies for FCM Status
Hyperliquid Strategies, a Nasdaq-listed firm holding HYPE tokens, has applied to register as a U.S. futures commission merchant (FCM). This application, disclosed in its third-quarter earnings release, aims to allow the firm to hold accounts for Americans trading certain perpetual futures markets built on Hyperliquid. The proposed broker would serve U.S. customers trading permissioned markets under HIP-3, a planned upgrade that would allow outside parties to operate markets for verified users. Hyperliquid Strategies, separate from Hyperliquid and the Hyper Foundation, has deployed $802 million during the quarter and filed the FCM application. CEO David Schamis described the moves as part of the same strategy and said the registration would support bringing markets deployed on Hyperliquid onshore.