Hyperliquid launches lobbying group with $28M in HYPE funding

Decentralized derivatives exchange Hyperliquid (HYPE) has launched the Hyperliquid Policy Center, a new lobbying group headed by prominent crypto lawyer Jake Chervinsky, Fortune Crypto reported. The Hyperliquid Foundation has committed $28 million worth of HYPE tokens to fund the center's initial operations and activities. Through the new center, the foundation aims to establish a legal path for the mass adoption of DeFi. Chervinsky criticized the current DeFi regulatory framework, stating that he would work to create regulations that could integrate decentralized finance into the existing financial system.