Hyperliquid At Risk In Democrats’ Crypto Crackdown? ZachXBT Warns Of Potential Risks

Industry groups have sent a letter to President Donald Trump advocating for new tax policies and agency actions on cryptocurrency initiatives, emphasizing the need for progress amid Congressional uncertainty regarding market structure work.

Acting CFTC Chair Caroline Pham is closer to leaving the agency as the Senate Agriculture Committee has advanced President Donald Trump's nomination to replace her. This development indicates a potential shift in leadership at the Commodity Futures Trading Commission, which plays a crucial role in regulating the U.S. derivatives markets.

World Liberty Financial (WLFI), a cryptocurrency project associated with Donald Trump and his family, reported a security breach in September, which has now been publicly acknowledged. The breach led to the freezing of some user accounts, raising concerns about the project's security and integrity.

Safepal has announced the integration of Hyperliquid to create a wallet-native perpetual decentralized exchange (DEX) hub. This development aims to enhance user experience by allowing seamless trading directly from the Safepal wallet, thereby increasing accessibility for cryptocurrency traders.

Hyperliquid's price is approaching the $40 mid-range level as new wallet integrations with Phantom and SafePal are influencing user demand and trading activity. Currently trading near $39, Hyperliquid has seen a 2% increase in the past 24 hours, indicating positive market sentiment.

Hyperliquid has proposed a significant reduction in transaction fees as part of its new initiative aimed at enhancing user engagement and attracting more participants to its platform. This proposal comes alongside other developments, including an overhaul of Aerodrome, a Cloudflare outage, and an approved increase in dYdX buybacks.

Donald Trump has reignited discussions around the Federal Reserve by hinting at his preferred successor for Jerome Powell, leading to a surge in betting markets favoring Kevin Hassett. Trump expressed a desire to replace Powell, indicating he has a shortlist of candidates, which has influenced market predictions significantly. This shift reflects Trump's ongoing influence in economic discussions, particularly in the cryptocurrency sector.

Hyperliquid has introduced its HIP-3 growth mode, which aims to reduce transaction fees by 90% to stimulate new market opportunities. This strategic move is expected to enhance user engagement and attract more participants to the platform, potentially increasing liquidity and trading volume.