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Arca CIO Jeff Dorman Describes Binance, Hyperliquid as Stock Venues
He focused on tokenized equities and stock-linked derivatives. A prior SanDisk episode recorded $21.9 million on Binance and $3.1 million on Trade XYZ contracts listed on Hyperliquid.

Arca Chief Investment Officer Jeff Dorman characterized Binance and Hyperliquid as venues primarily for stock exposure, focusing on tokenized equities and derivatives tied to shares.
A prior episode involving SanDisk contract trading on Binance and Trade XYZ showed activity on Binance and Trade XYZ, which lists stock-tracking contracts on Hyperliquid. Binance recorded about $21.9 million in trades during the first minute, compared with $3.1 million on Trade XYZ. U.S. stock markets were closed, leaving no live share quotes to anchor the contracts.