ICE sent back the post about the Trade[XYZ] partnership—it’s not off, but $HYPE didn’t bounce back: after reposting, it peaked at just 1.4%, and now sits at 88.0, still halfway down from its prior high. I just finished writing about its post deletion at 7:35 PM when a new one appeared. The opening line was changed to “planning to bring Hyperliquid-based perpetuals to the U.S.,” the first sentence of the second paragraph stated “subject to regulatory approval,” and it specifically ended by mentioning plans to apply for leverage trading authorization. I checked Hyperliquid’s 1-minute chart: the post was published when price closed at 87.50; by 7:47 PM it peaked at 88.73; at 7:56 PM, one minute of trading saw roughly 160,000 tokens (~$14M) traded, and price immediately dropped to 87.00—lower than before the post. My take: the market has already shifted from pricing in “ICE listing Hyperliquid” to pricing in “ICE planning to apply.” The drop when the post was deleted reflected fear of partnership cancellation; the repost confirmed this is now a waiting game for regulatory approval—with no timeline provided—so it’s no surprise it hasn’t recovered to 97. What to watch next isn’t how the tweet gets rewritten, but when both parties submit formal applications to U.S. regulators. Do you think the remaining half of the drop can be made up?