The Binance co-founder’s proposal comes a week after Hyperliquid trader James Wynn’s public positions were supposedly targeted.

Wynn’s leveraged BTC long position reached as large as $1.2 billion before he was forced to unwind some positions amid mounting losses.

Hyperliquid’s native token surged after CFTC commissioner Mersinger said crypto perpetual futures could come to the U.S. “very soon.”

Ethena’s USDe synthetic dollar is live on Hyperliquid’s Hypercore, HyperEVM, and Unit.

The Layer 1 chain is the fastest-growing blockchain in the top 20 by TVL over the last month.

Hyperliquid controversially delisted the JELLYJELLY token to avoid a $10 million loss, leaving traders that went long with losses.

The perpetual exchange’s HLP vault was down $10 million on an absorbed position before the team intervened and closed the position at a profit, casting doubts on its decentralization claims.

The lending protocol on Hyperliquid’s EVM reached its HYPE and wstHYPE caps.

The trader drew attention for “insider trading” leading up to the US Strategic Reserve announcement, and a $500 million short position earlier this week.

The mechanism will offer HYPE stakers trading fee discounts of between 5% and 40%.