Druckenmiller invests in Trade[XYZ] as ICE plans regulated Hyperliquid market

Stan Druckenmiller disclosed on October 29 that he had invested in Trade[XYZ], a developer of perpetual futures on Hyperliquid, without giving an amount. That day, Intercontinental Exchange, the New York Stock Exchange's owner, announced a definitive agreement with Trade[XYZ] to build a regulated, round-the-clock U.S. trading venue and clearinghouse for perpetual contracts, which do not expire, pending regulatory approval. ICE would invest in Trade[XYZ] and exclusively operate its regulated platforms; Trade[XYZ] would design and deploy the products. Hyperliquid's HYPE token rose about 20%, from $78 to $94, after the announcements, though Druckenmiller's stake was in Trade[XYZ], not HYPE.