Good news has just begun, but bad news is already here? Earlier, I was already thinking that CEXs and DEXs are now aggressively entering TradFi— they’ve become virtually indistinguishable from traditional brokerages. And now, the established players in traditional finance can’t sit still any longer. CME Group and ICE (parent company of the NYSE) have joined forces to pressure the CFTC and Congress, calling for federal regulation of Hyperliquid @HyperliquidX, citing: 1. Hyperliquid’s 24-hour crude oil perpetual contracts may disrupt traditional market pricing, 2. Lack of KYC could enable sanctions evasion, 3. Anonymous trading may facilitate market manipulation. Translation: “Our trading volume is being stolen—step in and regulate it now!” Regardless, Web3.0 has already made traditional finance feel threatened— and that, in itself, is the biggest bullish sign. 🫡