Funding
Hyperliquid Strategies Seeks FCM License for U.S. Futures Trading
Hyperliquid Strategies, a Nasdaq-listed treasury firm chaired by former Barclays CEO Bob Diamond, has applied to become a U.S. futures commission merchant (FCM). If approved, the subsidiary would allow Americans to trade perpetual futures on Hyperliquid markets, which currently blocks U.S. users. The move aims to increase trading volume and revenue for Hyperliquid, which uses fees from perpetual futures to buy back HYPE tokens. The company reported $620.6 million in net income, driven by unrealized gains in HYPE, a major on-chain venue for perpetual futures.