The Hyper Foundation allocated 1 million HYPE tokens worth approximately $29 million Wednesday to establish the Hyperliquid Policy Center, a Washington-based nonprofit focused on decentralized finance regulation.
Cryptocurrency lawyer Jake Chervinsky was named founding CEO.
The organization plans to brief lawmakers and federal agencies on decentralized exchange regulation, perpetual futures contracts and blockchain-based market infrastructure.
The tokens were unstaked Wednesday afternoon, according to the foundation's announcement.
Leadership and Focus Areas
Chervinsky previously served in senior positions at the Blockchain Association trade group and venture firm Variant.
The founding team includes Policy Counsel Brad Bourque, formerly an associate at Sullivan & Cromwell, and Policy Director Salah Ghazzal, previously policy lead at Variant.
The policy center identified perpetual derivatives as a priority focus area. Perpetual futures contracts allow traders to maintain leveraged positions without expiration dates, a market structure that current U.S. regulations do not specifically address.
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Platform Trading Activity
Hyperliquid operates a decentralized exchange for perpetual futures and spot trading settled directly on blockchain infrastructure. The platform processed more than $250 billion in perpetual trading volume during January 2026, according to DefiLlama data.
The exchange handles transactions through an on-chain order book rather than routing through traditional clearinghouses.
Total value locked on the platform reached $4.49 billion as of Wednesday.
Policy Landscape Context
The Hyperliquid Policy Center joins an expanding field of cryptocurrency policy organizations in Washington.
The $29 million initial funding exceeds the $8.3 million spent by the Blockchain Association in 2024 and the $5.6 million spent by the Digital Chamber, according to public filings.
However, it remains below the funding committed to the Ripple-backed National Cryptocurrency Association launched in 2025. The organization is currently hiring for chief of staff, head of communications and head of government relations positions.
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