Hyperliquid has ramped up its lobbying of U.S. regulators in search of a compliant way to bring perpetual futures to the country. In May, the Commodity Futures Trading Commission (CFTC) approved the listing of a perpetual contract tied to the spot price of bitcoin, with future plans to review perpetual contracts tied to other assets on a case-by-case basis. In June, the CFTC opened public comment on two proposed changes on 24/7 energy futures and perp contracts tied to oil, Cryptopolitan reported. Crypto perp volume slid in JulyIn other news, the crypto market saw a decline in perps volume in July, according to CryptoRank. Total centralized-exchange futures volume slid to $4.0 trillion in July, its lowest since December 2023 and down sharply from peaks above $10 trillion in late 2025.