CME Chairman: Hyperliquid finds it difficult to enter the United States without solving KYC On October 20, 2026, Terry Duffy @ CMEGroup, CEO of the Chicago Mercantile Exchange, stated on Bloomberg's Odd Lots podcast @ podcasts that Hyperliquid cannot solely rely on providing underlying infrastructure to shift regulatory responsibility to users or deployment parties. He believes that the lack of customer identity verification, high leverage, and automatic liquidation mechanisms may trigger chain liquidation and impact the market. The platform has an obligation to supervise transactions and ensure fair and orderly market participation. He emphasized that if Hyperliquid wants to enter the US market, it must comply with US laws, and the operating model proposed by its founder Jeff Yan has multiple compliance issues in his view. Source: Bloomberg