ICE CEO: Hyperliquid Is 'Bigger Than Nasdaq' With 11 People!

Intercontinental Exchange CEO Jeff Sprecher made a striking comparison at the Bernstein Conference, calling Hyperliquid "bigger than Nasdaq" despite the decentralized derivatives platform operating with just 11 employees. Sprecher said he has met with the Hyperliquid team multiple times and described them as "very, very smart people" — a rare public endorsement from one of the most powerful figures in traditional financial infrastructure.

Sprecher also flagged Hyperliquid's SpaceX perpetual futures market as a potential blockbuster, suggesting it could become "bigger than the IPO itself" when SpaceX goes public on June 11. The comment underscores how crypto-native derivatives venues are capturing pre-IPO price discovery that traditional exchanges cannot legally offer.

Source: [SummitCast](https://event.summitcast.com/view/LCrkJqkW2kWbeKaWQnzTns/aGbft7FPbAixdqUhKL9rLo)