Mentioned:
The owner of the New York Stock Exchange is betting on something new: perpetual futures on Hyperliquid.
What’s happening:
- Intercontinental Exchange (NYSE: ICE) has made a new strategic investment in Hyperliquid ecosystem company trade[XYZ]
Why it matters:
- Intercontinental Exchange has publicly stated that their new investment in trade[XYZ] is a part of a larger partnership in which they plan to establish a dedicated market in the United States for 24/7 perpetual futures trading on Hyperliquid
Going deeper:
- trade[XYZ] has become one of the fastest growing markets on Hyperliquid and has generated more than $650B USD in trading volume
- Legendary hedge fund manager Stanley Druckenmiller is also making a strategic equity investment in trade[XYZ] alongside of Intercontinental Exchange
The fine print:
- The partnership for 24/7 perpetual futures trading between trade[XYZ] and Intercontinental Exchange will ultimately still require regulatory approval before it can launch
The intrigue:
- Intercontinental Exchange has been aggressively investing into crypto companies lately, including previously backing Polymarket with up to $2B USD as well as digital asset exchange OKX
