Trump Administration Seeks Onshore Crypto Infrastructure Amid Security Challenges
The Trump administration is pursuing efforts to onshore cryptocurrency platforms, including the derivatives exchange Hyperliquid. However, blockchain intelligence reports indicate that sanctioned actors are actively moving significant funds on such platforms—North Korea-linked wallets tied to the Lazarus Group transferred more than $30 million in bitcoin on Hyperliquid over a three-week period, according to CoinDesk analysis.
The onshoring agenda reflects broader administration priorities to bring crypto infrastructure and trading under U.S. regulatory jurisdiction. Simultaneously, former SEC and CFTC officials are urging the agencies to adopt lighter regulatory approaches to crypto derivatives and custody arrangements, warning that overly stringent rules risk keeping an estimated $90 trillion perpetual futures market offshore.
