Singapore's central bank MAS added $HYPE ‌ to its investor alert list.

Hyperliquid's response: "This is not a ban, there is no enforcement action, and there is no misconduct."
Technically speaking, this is true. This alert list essentially says "we have not approved/authorized this" — which applies to most crypto projects, as they do not operate under traditional licensing frameworks.
But perception matters. Being on this list creates fear, uncertainty, and doubt (FUD), even if the reason is not substantial. Some funds will need to explain to their compliance departments. Retail investors may panic.