Hyperliquid Price Surges 50% to $86 as Kraken Eyes US Entry Amid $30M North Korea Link

• Hyperliquid price has surged nearly 50% to around $86, putting HYPE close to its recent record high
• Kraken and Hyperliquid talks could bring Hyperliquid-linked perpetual futures to US traders through a regulated setup
• More than $30 million in Bitcoin linked to North Korea’s Lazarus Group was reportedly moved through Hyperliquid, adding fresh regulatory scrutiny

Hyperliquid’s price has had a few wild days, climbing nearly 50% from about $57 to $86.71 as traders turned to the token. The rally comes with a strange mix of headlines. Kraken’s parent company is reportedly working on a route to bring Hyperliquid’s perpetual futures to US traders. Meanwhile, blockchain data has flagged more than $30 million in Bitcoin sales tied to North Korea’s Lazarus Group.

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Hyperliquid Price Gets a Boost From US Ambitions

At press time, HYPE price was trading at $83.45 following a 3.6% rise over the past 24 hours. HYPE briefly moved above $86 for a new all-time high. The token has gained more than 89% over the past year, putting it among crypto’s stronger performers.

Part of the excitement is coming from the reported Kraken and Hyperliquid deal. Hyperliquid Labs is in advanced discussions with Payward, Kraken’s parent company, over a structure that could let registered US users trade a selection of Hyperliquid-linked perpetual futures through Payward’s Bitnomial exchange. Payward has already presented the proposal to the CFTC, although approval is still pending.

This would give Hyperliquid a regulated route into the US derivatives market without simply opening its existing decentralized platform to American traders. Bitnomial is already a CFTC-regulated exchange and clearinghouse, making it a natural piece of the proposed setup.

Also Read: Bitcoin Price Eyes $150,000 After 25% August Surge as Strategy Buys $370 Million in BTC

North Korea Crypto Activity Puts Hyperliquid Under a Different Spotlight

Amid this, wallets linked by blockchain analysts to North Korea’s Lazarus Group sold more than $30 million in Bitcoin through Hyperliquid over the past three weeks. The proceeds were converted into Ether (ETH) and Solana (SOL) before being moved toward centralized exchanges, including Kraken, LBank, and KuCoin.

The activity does not mean Hyperliquid itself was involved in the transactions or that the platform knowingly facilitated them. The same platform attracting attention for its rapid growth is now being examined through the lens of sanctions and compliance as it tries to establish a foothold in the US.

Investors are drowning in uncertainty. A successful US rollout could bring another wave of legitimacy and liquidity. But the scrutiny around North Korea crypto activity could make the regulatory path more complicated.

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