# Hyperliquid's Jeff Yan Says He Sees No Competitors for Platform By Sonny Jang Canonical URL: https://www.tokenpost.com/news/people/36510 Published: 2026-10-21T09:01:57.000Z Updated: 2026-10-21T09:01:57.000Z Section: People > Yan has separately described how financial firms can run markets on Hyperliquid while keeping their customer relationships. Hyperliquid Labs co-founder and CEO Jeff Yan says he sees no competitors for the trading platform, while his separate comments describe how financial firms can use its infrastructure to operate markets. Hyperliquid is a decentralized liquidity protocol. Yan has [described it as shared infrastructure]() that lets financial firms run markets through the network while keeping their own customer relationships. His no-competitors remark states his view of the platform's market position. Yan has also [argued that firms operating markets through Hyperliquid should carry U.S. regulatory duties](), rather than the underlying blockchain. That position addresses responsibility for markets run on the network. Access for individual U.S. users is a separate issue. Yan said Oct. 15 that Americans who use a VPN to reach Hyperliquid violate its terms of service. He said compliant access depends on regulators evaluating on-chain technology against the CFTC's core principles. ## Links in this article - [described it as shared infrastructure](https://www.tokenpost.com/news/technology/33861) - [argued that firms operating markets through Hyperliquid should carry U.S. regulatory duties](https://www.tokenpost.com/news/regulation/34632)