HYPE Token Jumped 14% in 2 Hours After Trump Name-Drops Hyperliquid in White House Speech

President Donald Trump made his ninth official crypto endorsement on Wednesday by naming Hyperliquid (HYPE) during a White House meeting with top tech leaders. Hosting executives from Coinbase (COIN) and Nasdaq (NDAQ), President Donald Trump stated that “I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion.” The reference points to Michael Selig, chairman of the Commodity Futures Trading Commission (CFTC).

The HYPE token jumped 14% within two hours of the comment, rising from $62.23 to nearly $71. Related treasury holding firm Hyperliquid Strategies saw its stock close 30% higher on Nasdaq. The HYPE token now holds a total market valuation of $15.9 billion.

Trump’s Crypto Endeavors End Up Seeing Huge Losses

Market data shows that past crypto endorsements by President Donald Trump followed a pattern of short spikes followed by larger price drops. Across eight prior endorsements, asset prices gained 31% on average within 24 hours before turning negative within 30 days. Today, those eight endorsed crypto coins trade at price levels that are 60% lower on average than what they were before Donald Trump backed them.

In March 2025, President Donald Trump promised a national crypto reserve featuring XRP (XRP-USD), Solana (SOL-USD), and Cardano (ADA-USD). While Cardano spiked 75% following his social media post, the White House later limited the strategic reserve to Bitcoin alone. Cardano has since fallen 73% below its pre-announcement price. Similarly, the Official Trump (TRUMP) token saw large losses, with nearly one million wallets losing a combined $3.81 billion.

Past price data shows that the eight endorsements peaked 31% higher within 24 hours on average. They turned negative within 30 days and sit 60% lower today.

Trump’s HYPE Token Endorsement Comes Alongside Active Regulatory Work

Unlike past token mentions, this Hyperliquid endorsement happens while CFTC Chair Michael Selig works to set up legal paths for the exchange in the U.S. Chairman Michael Selig and the CFTC approved U.S. perpetual futures rules earlier this year and opened pathways for decentralized platforms. In July, Hyperliquid filed a formal petition asking the agency for tailored DeFi rules.

Traders are watching whether HYPE can maintain its gains above the $62.23 level over the next 30 days. A formal regulatory framework from the CFTC would mark the first time a Trump-backed crypto token secures official legal approval in the United States.

Traders also track overall market movements using the TipRanks Trump News & Market Impact Dashboard. The tool monitors Truth Social posts and policy news to score market sentiment across three levels: Trumpy, Grumpy, or Neutral.