Add as a preferred source on GoogleHYPE Gains 18.2% in 24 Hours; Druckenmiller Says He Invested in Trade[XYZ]
ICE plans to invest in Trade[XYZ] and operate its regulated U.S. perpetual markets, which remain subject to regulatory approvals.
Hyperliquid (HYPE) rose 18.2% over 24 hours to $95.03 at 1:23 p.m. ET (17:23 UTC) Thursday; Stan Druckenmiller said he invested in Trade[XYZ], Intercontinental Exchange's (ICE) partner for a planned U.S. derivatives venue.
At 8:08 a.m. ET (12:08 UTC) Oct. 29, Druckenmiller wrote, “I am excited to be an investor in trade(xyz) as they partner with ICE.”
ICE announced Oct. 29 that it reached a definitive agreement with Trade[XYZ]. ICE plans to invest strategically in the company and operate its regulated markets exclusively.
The partners propose a separate retail trading and clearing structure, with contracts tied to crypto, equities, indexes, commodities, foreign exchange and other real-world assets. Trade[XYZ] would design the products, while Hyperliquid supplies the underlying infrastructure.
The market has not launched and remains subject to Commodity Futures Trading Commission approval and other required regulatory approvals. ICE plans for the retail operation to remain separate from its institutional futures and clearing business. Perpetual futures have no expiration date.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.