Justin Sun Calls Hyperliquid a Major Discovery, Says Regulation May Shape CEX-to-DEX Shift
Justin Sun said Hyperliquid is one of the biggest discoveries of the current market cycle and that its launch of U.S. stock perpetual contracts has opened new possibilities for the industry. According to Odaily, Sun made the remarks during a 3.5-hour in-person discussion with Jin Ming.Sun said competition for Hyperliquid is increasing as more projects enter the U.S. stock perpetual-contract market. He said the future competition between decentralized exchanges (DEXs) and centralized exchanges (CEXs) will depend in part on how U.S. regulators define Hyperliquid’s regulatory boundaries. If it receives an exemption similar to Uniswap’s, many CEXs could shift to a DEX model, Sun said; stricter regulation could put pressure on Hyperliquid. He added that Hyperliquid’s regulatory affairs and U.S. operations are not yet as mature as those of onshore-compliant companies such as Circle.