Hyperliquid starts DeFi lobbying group with $29 million token backing

Jake Chervinsky, CEO of the Hyperliquid Policy Center, said markets are migrating to blockchain, and the U.S. need to adopt new rules of risk being left behind. What to know : Popular decentralized exchange Hyperliquid launches a Washington, D.C.-based policy group focused on decentralized finance rules, joining an already crowded field of crypto policy organizations. Crypto lawyer Jake Chervinsky will lead the group's advocacy on perpetual derivatives and blockchain markets. Hyper Foundation has committed 1 million HYPE tokens worth nearly $29 million to fund the initiative.