Trump Backs Onshoring Hyperliquid as CFTC, SEC Push Crypto Rules

President Trump said the CFTC is working to bring Hyperliquid into the US in a fully compliant manner, sending HYPE up ~17-19% and Hyperliquid Strategies (PURR) shares up 30% while CME and Cboe fell. Bitcoin surged past $69,000 and ether reclaimed $2,000 after the Treasury doubled long-dated bond buybacks, triggering over $1.2 billion in liquidations. The SEC proposed its Regulation Crypto Assets framework with a conditional safe harbor, while the OCC promised final GENIUS Act stablecoin rules by November.

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Trump says CFTC working to bring Hyperliquid onshore, HYPE surges 17% At a White House press conference, President Trump said CFTC Chair Michael Selig is working to bring perpetuals platform Hyperliquid into the US in a 'fully compliant and legal fashion.' HYPE jumped ~17-19% and Hyperliquid Strategies (PURR) shares rose 30%, while CME and Cboe fell on the news. 1 2 3

Bitcoin tops $69,000, ether reclaims $2,000 as Treasury doubles buybacks The Treasury doubled liquidity-support buybacks for 10- to 30-year debt, easing long-term yields and fueling a crypto rally that pushed bitcoin above $69,000 for the first time in two months. Over $1.2 billion in positions were liquidated within an hour, with shorts losing about $1.29 billion. 4 5 6

SEC proposes Regulation Crypto Assets framework with conditional safe harbor The SEC's proposal establishes a framework for crypto firms to raise capital under federal securities laws and includes a conditional safe harbor from being deemed an investment contract. The move comes as the Clarity Act remains stalled in Congress, with a Senate vote reportedly scheduled for Sept. 15. 7 8 9

OCC promises final GENIUS Act stablecoin rules by November Comptroller Jonathan Gould said the OCC will have final rules implementing the GENIUS Act by November, ahead of the law's January 2027 effective date. The FDIC and NCUA have issued parallel proposals, with the OCC expecting to begin processing stablecoin issuer applications in 2027. 10 11

FalconX and Ethena launch $1B USDe institutional lending facility The $1 billion secured lending facility will deploy assets backing USDe into overcollateralized loans to institutional borrowers, expanding Ethena's sources of returns beyond crypto basis strategies. FalconX will originate and service the loans through a special purpose vehicle. 12

Binance launches Agent OS letting AI agents trade on users' behalf Binance's new Agent OS platform lets developers connect AI agents to its financial infrastructure, enabling autonomous market analysis and trade execution. Users control access via dedicated sub-accounts with withdrawals blocked by default, putting guardrails largely in users' hands. 13

GnosisDAO approves transition to Ethereum-based EEZ rollup Gnosis Chain will transition from an independent layer 1 into an Ethereum Economic Zone rollup, unlocking roughly 350,000 GNO tokens (~27% of circulating supply). The first version targets launch around December 2026 or January 2027 with two-second blocks settling to Ethereum. 14

FASB seeks input on stablecoin cash-equivalent accounting guidance The Financial Accounting Standards Board proposed guidance clarifying whether digital assets like stablecoins qualify as cash equivalents under US GAAP, with enhanced disclosures for all cash-equivalent components. Stakeholders have until November 19, 2026 to comment. 15