TLDR
- The Hyperliquid Foundation has donated $29 million in HYPE tokens to establish a DeFi policy advocacy group.
- The donation will help launch the Hyperliquid Policy Center, a non-profit organization based in Washington, D.C.
- Jake Chervinsky, a prominent crypto lawyer, will lead the newly established policy center.
- The Hyperliquid Policy Center will focus on advocating for regulations concerning decentralized exchanges and blockchain infrastructure.
- The initiative aims to ensure that decentralized finance continues to thrive in the U.S. market.
The Hyperliquid Foundation has launched a policy group focused on advocating for decentralized finance (DeFi) interests. The group has committed to a $29 million donation in HYPE tokens to support this effort. The donation aims to help establish the Hyperliquid Policy Center, a non-profit organization based in Washington, D.C., which will work to influence DeFi-related regulatory policies.
Hyperliquid Foundation Contributes $29 Million in HYPE Tokens to DeFi Advocacy
The Hyperliquid Foundation has pledged 1 million HYPE tokens, worth around $29 million, to fund the creation of the Hyperliquid Policy Center. The donation will be used to launch a lobbying group in Washington, D.C., dedicated to DeFi. Jake Chervinsky, a prominent crypto lawyer, will lead the new policy group.
This effort comes at a time when U.S. lawmakers are debating how to regulate the cryptocurrency industry, including decentralized exchanges and decentralized finance platforms. Chervinsky, who formerly led legal efforts at the Blockchain Association, is confident that the policy group will help shape favorable regulatory frameworks.
“We are confident that under Jake Chervinsky’s leadership, the Hyperliquid Policy Center will have a meaningful impact,” the Hyperliquid Foundation said.
Hyperliquid Policy Center to Shape DeFi Regulation in Washington, D.C.
The Hyperliquid Policy Center will focus on advocating for rules surrounding decentralized exchanges, blockchain-based market infrastructure, and perpetual futures. The center’s main goal is to ensure that decentralized finance can continue to thrive in the U.S. market. The policy center plans to engage with lawmakers, publish technical research, and offer guidance on how to regulate DeFi.
The group’s establishment is a strategic move to advance DeFi regulation in a crowded field of crypto advocacy organizations in Washington. It joins groups such as the DeFi Education Fund and the Blockchain Association, which also advocate for favorable policies for the digital asset space. Hyperliquid’s move highlights the growing influence of decentralized exchanges and their commitment to shaping policy that supports innovation.
The post Hyperliquid Foundation Launches DeFi Policy Group with $29M Token Donation appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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