DRW CEO Don Wilson Questions Hyperliquid's Priority-Fee Model

DRW founder and CEO Don Wilson questioned whether Hyperliquid’s priority-fee mechanism fits the Commodity Futures Trading Commission’s (CFTC) core principles, raising a regulatory question for a planned U.S. perpetual-contract market. Wilson’s questions concern ICE’s plan to bring Hyperliquid perpetual markets onshore . Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, and Trade[XYZ] plan to use Hyperliquid infrastructure for a market covering crypto assets, stocks, commodities, foreign exchange and other real-world assets. The plan is subject to regulatory approval, with ICE set to operate the regulated market and clearing structure.