Hyperliquid Taps Famous Crypto Lawyer for CEO in $28 Million US Policy Initiative

Core Insights - Hyperliquid has launched the Hyperliquid Policy Center, a lobbying and regulatory advisory group focused on decentralized finance (DeFi) in the U.S. [1] - The center will be led by Jake Chervinsky, a prominent crypto lawyer with extensive experience in advocating for the crypto sector [2][3] Group 1: Leadership and Objectives - Jake Chervinsky aims to help Congress and federal agencies understand DeFi technology and craft regulatory frameworks that integrate DeFi into the broader financial system [3] - The center's top priority includes designing a legal framework for perpetual derivatives with no expiration, which offers simpler exposure to underlying assets compared to traditional options or futures [4] Group 2: Funding and Expansion - The Hyperliquid Foundation has committed 1 million of its native HYPE tokens, valued at approximately $28 million, to fund the new policy center [5] - Hyperliquid Strategies Inc. recently reported a treasury expansion, deploying $129.5 million to acquire 5 million additional HYPE tokens at an average price of $25.9 per token [6] Group 3: Team Composition - The founding team includes Policy Counsel Brad Bourque, formerly of Sullivan & Cromwell LLP, and Policy Director Salah Ghazzal, previously Policy Lead at Variant [7]