OKX CEO Stresses Regulatory Challenges for On-Chain Perpetuals
Star Xu, CEO of OKX, has commended Hyperliquid’s achievements in on-chain perpetuals. Despite its small team, hyperliquid has gained meaningful traction. However, regulatory concerns are hindering broader adoption.
Xu’s praise comes as the Hyperliquid token, HYPE, hit a record high of $59.30. It has surged over 30% in the past month. OKX Web3 has been experimenting wiht similar products since 2023. Yet, regulatory worries have prevented a full launch.
The US Commodity Futures Trading Commission (CFTC) enforced actions against DeFi platforms in 2023. Companies like Opyn and Deridex faced charges for not registering properly. They were also faulted for offering leveraged trades in digital assets without the right permissions.
- CFTC’s moves have discouraged exchange rollouts of perpetual contracts.
- OKX’s xu hopes for clearer regulations to safely enter the market.
- Aster joins competitors in the on-chain perpetuals space.
Meanwhile, Arthur Hayes, co-founder of BitMEX and CIO of maelstrom, predicts HYPE will hit $5,000 by 2028. This bold forecast follows his previous claims of a 126-fold gain within three years.
During the WebX 2025 conference in Tokyo and a podcast with Kyle Chasse, Hayes shared his optimism. If accurate, his projection marks an 84x to 86x increase from today’s prices.
