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The New York Stock Exchange will operate markets on Hyperliquid via Trade XYZ.
Gregory Raymond, a crypto journalist, reported that Trade XYZ, launched in October 2025, has achieved approximately $606 billion in cumulative volume, with nearly $4 billion in current open interest. About 97% of open interest in non-crypto assets on Hyperliquid is concentrated on Trade XYZ.
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Raymond previously reported on Google's launch of a Multi-Party Compute service designed to help banks safeguard crypto and tokenized assets. Earlier, he announced his departure from editorial leadership at TheBigWhale_ after co-founding the outlet in 2022. These developments reflect his ongoing coverage of institutional shifts in digital asset infrastructure.