ICE CEO Says Hyperliquid Is Bigger Than Nasdaq, Talks Are Ongoing

Jeff Sprecher, chief executive officer of Intercontinental Exchange, the parent of the New York Stock Exchange, said decentralized derivatives exchange Hyperliquid is already bigger than Nasdaq.

Crypto media outlet Odaily reported on May 29 that Frank Chaparro, GSR’s head of content, disclosed remarks in which Sprecher discussed Hyperliquid.

“If you haven’t heard of Hyperliquid, the platform we’re talking about now, it’s already bigger than Nasdaq,” Sprecher said. He added that ICE is not afraid of it and is in talks with the platform as it works to better understand the sector.

Hyperliquid is an on-chain derivatives trading platform that has drawn attention in the crypto market for its high trading volumes and rapid growth. Sprecher’s direct reference to the platform has fueled views that links between centralized exchange infrastructure and on-chain trading venues are expanding.