The UK Financial Conduct Authority (FCA) has classified Hyperliquid and the Hyper Foundation as "unauthorized entities," cautioning that they may be offering financial services in the UK without proper licensing. The notice, issued on May 21st, also advises users to refrain from engaging with these entities' apps and social media platforms. This move comes amid heightened scrutiny of decentralized finance platforms globally. In related news, CME Group CEO Terry Duffy expressed concerns over crypto perpetual contracts, describing them as a "potential disaster" and questioning the Commodity Futures Trading Commission's (CFTC) approval process for these complex financial products. Despite regulatory pressures, Hyperliquid, a prominent decentralized perps platform, has reported $255 million in revenue as of May 20th, with its HYPE token appreciating by 101% during the same period.