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Morning Edition · Tuesday, October 27, 2026Published at 1:37 AM EDT · New York
Kraken's parent seeks to run the first regulated US perpetuals market on Hyperliquid as GPU-rental and traditional-asset perpetuals spread
Payward would serve US clients through the CFTC-registered exchange Bitnomial. Injective listed a 10x perpetual on rental prices for five Nvidia chips, and Binance added traditional-finance contracts.
Hyperliquid has outlined a plan by Payward, the parent company of Kraken, to become its first market deployer regulated by the Commodity Futures Trading Commission (CFTC). The plan runs through HIP-3, Hyperliquid's standard that lets third…
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Derivatives Set Crypto Price Discovery
Leveraged perpetual futures keep displacing spot trading as the place where crypto prices form, which raises liquidation-driven volatility and pushes on-chain venues to compete on ordering rules that protect market makers.
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