NYSE Owner Praises Hyperliquid, Says It’s ‘Bigger than Nasdaq’

NYSE owner Jeff Sprecher calls Hyperliquid bigger than Nasdaq, praising its team and growing impact on energy and private markets.

Jeff Sprecher has some strong words about Hyperliquid. 

The founder and CEO of Intercontinental Exchange, which owns the New York Stock Exchange, spoke at the Bernstein conference recently. He called Hyperliquid bigger than Nasdaq. 

He also revealed that he has met with the team multiple times. His comments are drawing significant attention across financial and crypto circles.

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Jeff Sprecher Says Hyperliquid Rivals Traditional Exchanges

Sprecher did not hold back his admiration. 

He noted that the platform is being run by a very small team, yet it is competing with some of the biggest financial infrastructure in the world.

He described the founders as extremely smart. Moreover, he also said he saluted them for what they have built. Sprecher confirmed that ICE is actively talking to the Hyperliquid team. 

Besides, he mentioned exploring areas where both companies could potentially work together. This signals that traditional finance is paying close attention to what is happening in decentralized markets.

Hyperliquid’s Weekend Oil Trading Grabs Energy Market Attention

One specific area drawing institutional eyes is oil trading. Sprecher pointed out that Hyperliquid has been trading oil on weekends. 

Traditional oil markets are closed during that period. 

With conflict in the Middle East, major market-moving decisions have been happening on weekends. This created an opening that Hyperliquid stepped into.

He noted that this timing has driven serious interest from energy market participants. 

Traditional players who would ordinarily stick to conventional markets are now exploring the platform. 

Sprecher said those participants are watching the price discovery happening on Hyperliquid. He added that whether institutions admit it or not, it has become part of the broader financial conversation.

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SpaceX Listing Could Be a Defining Moment for DeFi Markets

Sprecher also highlighted Hyperliquid’s listing of a SpaceX derivative as a key development to watch. SpaceX is expected to go public on June 11. 

He said it will be telling to see how the price discovered on Hyperliquid compares to the IPO price. Regulators and market participants will be watching closely.

He explained that the platform allows up to 100:1 leverage. This means retail traders could put substantial capital at risk around the SpaceX listing. 

Sprecher said that, depending on how large the activity gets, the trading volume on Hyperliquid could potentially rival the IPO itself. He added that this is exactly why the platform cannot be ignored.

Sprecher described Hyperliquid as a true DeFi exchange. It operates on a blockchain and settles trades using stablecoins. He also pointed to the broader shift happening in markets. 

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