Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is backing a new U.S. trading venue for Hyperliquid perpetual futures, according to trade[xyz]. The development marks a significant institutional push into decentralized derivatives markets through one of the world's largest traditional exchange operators. Stanley Druckenmiller, the renowned macro investor, is also participating in the investment. However, the venture has not yet received approval from the Commodity Futures Trading Commission (CFTC), leaving its regulatory pathway uncertain as it seeks to operate within U.S. jurisdiction.