ICE and Nasdaq shares fall on rumor Hyperliquid is eyeing U.S. entry

Intercontinental Exchange and Nasdaq stocks slipped on Monday after a Bloomberg report stated that decentralized crypto trading platform Hyperliquid is negotiating with Kraken's parent company, Payward, to enter the U.S. market. Intercontinental Exchange shares dropped by 1.5%, while Nasdaq fell by 1.4%. Hyperliquid Labs, a Singapore-based platform, has been gaining popularity among traders but has been inaccessible to U.S. customers due to its decentralized nature.

According to the report, Hyperliquid is in advanced discussions with Payward to bring its perpetual futures to U.S. traders through Bitnomial, Payward's U.S.-regulated digital asset exchange and clearinghouse. If approved by regulators, this deal would mark the first entry of Hyperliquid into the U.S. market. Payward has submitted a proposal to the Commodity Futures Trading Commission outlining the basic structure of the deal, though the monetary terms have not been disclosed.

This move would allow U.S. traders to trade some perpetual futures tied to the price of crypto tokens built on Hyperliquid's blockchain technology via Bitnomial's exchange.