$PURR Hyperliquid Strategies Stock Jumps 30%: Trump and CFTC Behind It

Hyperliquid Strategies (PURR) shares surged 30.4% to close at $9.39 on the Nasdaq during the regular trading session. Intraday trading volume exceeded 58 million, approximately five times the average daily volume. In after-hours trading, the stock rose as high as $9.90.

This sharp rise has one cause. President Trump, in a press conference with technology executives and federal agency heads on Wednesday, announced that CFTC Chairman Michael Selig is working to bring the Hyperliquid platform to the U.S. "fully compliant and legal." Trump also urged lawmakers to pass the CLARITY Act, which would bring comprehensive regulation to the crypto sector.

Hyperliquid is a blockchain platform built on perpetual futures contracts (perp) that allows users to bet on price movements without directly holding the asset. The CFTC had previously greenlit Bitcoin perpetual futures on US platforms, but a clear regulatory framework was lacking for decentralized platforms like Hyperliquid to operate in the US. Selig stated in June that he wanted to "create a way to bring these kinds of on-chain markets to the US and make them subject to some kind of regulation."

Market reaction wasn't limited to PURR alone. Hyperliquid's native token, HYPE, surged 17% following Trump's remarks. Hyperliquid-linked ETFs (21Shares, Bitwise, Grayscale) also gained approximately 20% in the same session. Coinbase announced on the same day that it was directing Base App users to Hyperliquid's perpetual futures markets.

Looking at company fundamentals, Hyperliquid Strategies reported a net profit of $125.6 million in the third quarter of 2026, a sharp turnaround from a loss of $277.5 million in the second quarter. Four analyst firms set an average target price of $13.79 for the stock, representing approximately a 47% potential upside from current levels.

For Gate users, this development is a significant case study in observing the impact of reduced regulatory uncertainty in the US on the crypto ecosystem. Hyperliquid's compliance with the CFTC could set a precedent for similar platforms and accelerate institutional capital's entry into on-chain derivatives markets. The progress of the CLARITY Act and concrete regulatory steps by the CFTC in the coming period will be key factors in determining the sustainability of this rally.

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