Arthur Hayes Warns Hyperliquid of TradFi Competition

Arthur Hayes warns Hyperliquid of competition from TradFi platforms.

BitMEX co-founder Arthur Hayes told Decrypt that Hyperliquid could lose market share as TradFi platforms and major crypto exchanges enter the perpetual futures segment. He described the model, where trading fees are used to buy back and burn HYPE, as vulnerable. The platform’s open interest in RWA perpetuals reached $3 billion, and Hayes revealed he sold his entire HYPE holdings in less than two months after predicting $150 by August 2026.