‘Every single exchange’ will have to adopt public blockchain infrastructure to compete, Hyperliquid Policy Center CEO says
Chervinsky says that beyond regulated perps, onchain markets need to enter the U.S. regulatory perimeter, a step he expects will happen soon.
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What happened
Chervinsky says that beyond regulated perps, onchain markets need to enter the U.S. regulatory perimeter, a step he expects will happen soon.
Reported details
- TL;DR Hyperliquid Policy Center CEO Jake Chervinsky says every major exchange may need public blockchain infrastructure within a decade to remain competitive as market architecture evolves. He views Hyperliquid as underlying infrastructure rather than a direct exchange competitor, with regulated firms able to build customer-facing products on top. Chervinsky expects onchain markets to enter the … Read more
Why this matters
Every single exchange’ sits on the regulatory side rather than the structural side: the useful question is which dated rule, if any, follows this notice, and who wrote it. A rule that is not published yet changes nothing about who may act today, so treat the pending text as pending rather than as settled.
Evidence boundary
The scope is limited to what the linked reports state, and where two of them diverge both positions are recorded without either being picked in advance.
What to verify
Before acting on Every single exchange’, read the dated rule text itself rather than a summary of it, and note which agency wrote it and whether the comment period is still open.
Sources and editorial check time
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The Block RSS: https://www.theblock.co/news/regulation/2026-10-07-hyperliquid-policy-center-jake-chervinsky-interview-417896
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Crypto Economy RWA: https://crypto-economy.com/hyperliquid-policy-center-ceo-says-every-exchange-must-adopt-public-blockchains/
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Editorial source check time: 2026-10-07T17:23:57.408Z
This information is educational and is not financial, legal, or tax advice.