Justin Sun: Hyperliquid Is One of the Biggest New Discoveries of This Cycle, Regulation May Determine Whether CEXs Pivot to DEXs

Odaily reports: In a 3.5-hour in-person conversation with Jin Ming, Justin Sun stated that Hyperliquid is one of the biggest new discoveries to emerge during this cycle, and its launch of US stock perpetual contracts has opened up new imaginative possibilities for the industry. As more and more projects move into US stock perpetual contracts, Hyperliquid is facing intensifying competition. Justin Sun believes that the key to future competition between DEXs and CEXs lies in how US regulators define Hyperliquid's regulatory boundaries; if it obtains a regulatory exemption similar to that of Uniswap, it is possible that a large number of CEXs could pivot to the DEX model. Conversely, if regulation tightens, Hyperliquid will face significant pressure. Hyperliquid's maturity in regulatory affairs and US domestic operations still cannot compare with onshore compliant entities such as Circle.