Trump Supports Crypto Regulation Bill Amidst Market Shifts
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Then the big news hit. Around 3 p.m. ET, the president hinted at regulating Hyperliquid, the decentralized exchange owned by publicly traded Hyperliquid Strategies (PURR) that's been garnering popularity among traders as the home base of "perpetual futures" trading – the swap-like derivatives contracts with high leverage and no expiration that have been a thorn in the side of incumbent exchanges this year – despite U.S. residents not being allowed on the platform.
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Trading in the iShares Bitcoin Trust ETF (IBIT) was more than 4.5 times the 30-day average even before the Hyperliquid headlines as Treasury yields retreated, and investors overall pivoted toward underperforming sectors of the past year. Bitcoin volatility measured by Volmex Labs' BVIV Index jumped 13% after hitting a year-to-date low of 35.5 Friday.
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President Donald Trump on Wednesday offered support for a stalled bill that’s aiming to establish a clearer regulatory framework for cryptocurrencies, with his remarks coming at a White House event featuring key players in the crypto industry.
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Washington Times BusinessPresident Trump hosted cryptocurrency executives at the White House on Wednesday, one day after U.S. financial regulators unveiled crypto regulations.
3 details only one outlet reported
Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 CNBC Bitcoin, ether and other cryptocurrencies surged after U.S. President Donald Trump urged Congress to pass a bill expected to boost the sector.
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02 MarketWatch Washington Watch Trump calls for passage of a key cryptocurrency bill as it falters in the Senate: ‘We need Congress to take the next step’
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03 Washington Times Business Mr. Trump said digital currencies are critical to the U.S. maintaining its economic dominance, warning that if America doesn’t innovate, it could lose out to China and other countries investing in the cryptocurrency market.
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Sources (3)
- marketwatch
- cnbc
- washtimes-biz