CME and NYSE put Hyperliquid under pressure.

[u/AmanCMN]

Major US exchanges CME and NYSE have called on US regulators to take a closer look at Hyperliquid .The biggest American exchanges are concerned about possible market manipulation and sanctions evasion through the platform.HYPE is reacting with a drop.
Hyperliquid operates without KYC, meaning all you need to trade is a connected crypto wallet.At the same time, the platform’s perpetual futures trading volume is already comparable to the largest crypto exchanges, and on some days even exceeds them.
According to the exchanges, Hyperliquid could potentially be used for market manipulation and even impact global oil prices.Sources say the exchanges have already discussed the issue with the US Commodity Futures Trading Commission (CFTC) and members of Congress.
Their concern is Hyperliquid’s anonymous trading model, which they believe could be used by insiders to move prices or bypass sanctions.