🚨 A new regulatory development for the Hyperliquid ecosystem comes as $HYPE pulls back from its recent high. Nasdaq-listed Hyperliquid Strategies says its subsidiary has applied to register as a U.S. futures commission merchant (FCM). If both the application and the relevant permissioned market receive regulatory approval, the company plans to provide account services to U.S. customers participating in that market. The application remains pending, and its timing and outcome are uncertain. As of September 30, the company held approximately 38.52 million HYPE, valued at around $3.5 billion at the time. HYPE climbed to approximately $97.74 in late October before pulling back. On November 6, it traded roughly 20% below that high. #Hyperliquid# #HYPE# #Crypto# #DeFi#