CZ: Hyperliquid entering the U.S. could open the door for the entire DeFi industry. After Trump mentioned the possibility of having the CFTC explore Hyperliquid's compliant entry into the U.S. market, CZ stated in an interview that this isn't just an opportunity for Hyperliquid, but a turning point for the entire decentralized finance industry. If a perpetual DEX can enter the U.S. in a fully compliant manner, it means that in the future, more decentralized exchanges, on-chain services, and strategy products could potentially reach U.S. users. Hyperliquid is just the first example. The bigger shift is that U.S. regulators might be transitioning from blocking crypto's entry into the financial system to exploring compliant access pathways. CZ also mentioned that tokenization is a future trend. Stocks, assets, and financing tools being moved on-chain essentially transform the global capital market into a more open network. The issue of fragmented liquidity can be addressed through interoperability. If the U.S. truly opens the door to DeFi, the beneficiaries might not just be individual projects, but an entire suite of on-chain financial infrastructure. The next phase of competition in crypto is about who can be the first to gain acceptance within the regulatory framework.