Hyperliquid (HYPE) Climbs 6% After Landing on Singapore MAS Alert List

Hyperliquid News

Hyperliquid (HYPE), the decentralized perpetuals exchange, was added to the Monetary Authority of Singapore’s Investor Alert List on Friday, with the entry naming the Hyper Foundation website and the Hyperliquid trading app. The protocol confirmed the listing and said it does not constitute a ban, an enforcement action, or a finding of wrongdoing. In an official post, the team stressed it has never claimed to be licensed or authorized by MAS, and that nothing about its permissionless infrastructure has changed. Hyperliquid added that it remains committed to engaging constructively with regulators globally and supports clear, well-designed frameworks for onchain finance, signaling no operational disruption from the entry.

The Investor Alert List is a consumer-protection register, not a blacklist or scam label. MAS, the city-state’s central bank and financial regulator, maintains it to flag entities that the public may wrongly perceive as licensed or supervised by the authority. Inclusion does not block access to a platform or its tokens. For Singapore residents, the practical consequence is that trades on a listed venue carry no MAS investor protections. The regulator offered the same framing when it flagged other trading platforms earlier this month, describing the register as an informational warning tool rather than a punitive measure or a determination that any wrongdoing has occurred.

Hyperliquid now sits alongside Binance, Bybit, KuCoin and Bitget on the register. MAS listed Binance in 2021 and ordered it to stop serving Singapore; the exchange withdrew its local license bid that December and closed its Singapore platform in 2022. The regulator added KuCoin in February and Bybit on June 17, each flagged for serving residents without authorization. Those entities were centralized companies with a local presence, unlike Hyperliquid’s model, an on-chain automated market maker structure where no central intermediary custodies user funds and trades settle directly on the blockchain.

Notably, Hyperliquid’s roughly 11-person team relocated to Singapore in 2024, led by co-founder Jeff Yan, meaning the warning now names a project based in the regulator’s own city, though the team never sought a license there. Hyperliquid reiterated that traders retain self-custody of their funds, holding their own private keys rather than transferring assets to a centralized company. Transactions, it said, continue to settle directly on its blockchain and remain publicly verifiable at every step. The protocol argues this permissionless design places it outside the licensing regime that governs centralized intermediaries serving local users.

The listing lands amid a broader tightening of cryptocurrency oversight in Singapore. In May 2025, MAS ordered crypto firms serving overseas customers to obtain licenses or cease operations, closing a loophole that had let some Singapore-based companies avoid licensing by serving only foreign users. The regulator said the policy reflected a long-standing position communicated since 2022 rather than a shift in approach, and that it was ending the transition period for operators that had continued without a license. MAS framed the measures as strengthening consumer protection and aligning the Lion City’s framework with international anti-money-laundering and counter-terrorism-financing standards.

Despite the regulatory spotlight, Hyperliquid remains a major venue, ranking among the largest decentralized exchanges by trading volume, with roughly $5.7 billion in total value locked. The HYPE token slipped about 2% in the immediate aftermath, trading near $62 on Friday, before broader buying lifted it. Supporters argue the permissionless, self-custodial structure is precisely why an alert-list entry changes little operationally. As an altcoin tied closely to derivatives activity, HYPE’s valuation tracks both perpetuals volume and shifting regulatory sentiment across the major jurisdictions where decentralized finance now draws scrutiny.

COINOTAG’s proprietary 42-indicator composite S/R scoring engine rates the $65.48 resistance at 77/100, driven by the confluence of the previous-day high and the Ichimoku cloud top, while the $60.74 support also scores 77/100 from the Fibonacci 0.382 retracement and the SMA 50. With spot near $64.14 (up 5.68%), HYPE trades between these two strong walls. Our reading of derivatives data shows a slightly negative funding rate of -0.0053% and open interest near $1.51 billion, signaling cautious, short-leaning positioning despite the broader uptrend. RSI at 50.36 is neutral and MACD reads bearish. With the Fear and Greed Index at 13 (Extreme Fear), a clean break above $65.48 opens $76.98, while losing $60.74 would invalidate the bullish case toward $55.73 and risk a deeper bear market slide.