HYPE, Hyperliquid's native token, rose more than 20% in 24 hours to reach $72 on Aug 20, after President Donald Trump said the CFTC was pursuing compliant US access for Hyperliquid. No formal regulatory plan has been released yet.
Shares of Hyperliquid, the Nasdaq-listed HYPE treasury company trading under the ticker PURR, closed at $9.39, up 30.4% on the day, according to Yahoo Finance. The move followed the president's comments without any official CFTC rule on the books.
Roughly four hours before the president spoke, about $65,000 was placed on an options position on PURR: 719 contracts with an $8 strike price expiring in mid-October. The contracts changed hands near $0.90 each and were quoted at $2.45 by the close, valuing the position near $176,000, per CNBC.
Cointelegraph