Hyperliquid for Crypto Hedge Funds: Regulatory Frameworks and Institutional Onboarding Checklist
A cryptocurrency hedge fund manager considering Hyperliquid faces a practical regulatory puzzle. The platform operates as a decentralized exchange with sub-second execution, zero gas fees, and on-chain settlement—characteristics that blur traditional distinctions between broker-dealers, exchanges, and custodians. Unlike centralized alternatives that operate under Money Transmitter licenses or securities frameworks, Hyperliquid’s fully on-chain architecture and non-custodial