Crypto platform Hyperliquid has launched a new advocacy organization to drive policy changes for decentralized finance in Congress. The Hyperliquid Policy Center announced its establishment in Washington D.C., appointing veteran crypto lawyer Jake Chervinsky as its founder and CEO. Chervinsky previously served as legal head at crypto venture fund Variant and policy chief at the Blockchain Association.
The organization aims to advance a clear, regulated path for decentralized finance to thrive in the U.S., with a focus on perpetual derivatives and blockchain-based financial infrastructure.
Chervinsky stated that traditional finance companies are increasingly adopting blockchain technology for its efficiency and transparency, positioning it as the future base layer of the global financial system. He emphasized the U.S. must choose between fostering this innovation through new rules or risk falling behind other nations.
Jeff Yan, co-founder and CEO of Hyperliquid, highlighted the critical juncture in U.S. policy discussions. He noted the platform's previous lack of a unified voice in these discussions and stressed the urgent need to upgrade the existing financial system's tech stack. Yan added that global financial regulation will be shaped in the U.S. and urged for policies that thoughtfully embrace the potential of new financial systems.
Congress is currently working on legislation to define regulatory oversight for crypto, though a Senate bill remains stalled due to disagreements on stablecoin provisions among lawmakers, crypto, and banking lobbies.
The Hyperliquid Policy Center's founding team also includes policy director Salah Ghazzal, former policy lead at Variant, and policy counsel Brad Bourque, formerly of Sullivan & Cromwell.