Intercontinental Exchange (ICE) Chairman and CEO Jeffrey C. Sprecher said on May 27 at the Bernstein 42nd Annual Strategic Decisions Conference that the DeFi perpetual futures trading platform Hyperliquid’s scale is “already bigger than Nasdaq,” and confirmed that ICE is “in communication with them, and trying to understand this space.”
Sprecher’s complete direct quote
Sprecher’s exact words at the Bernstein 42nd Annual Strategic Decisions Conference were: “We’re talking about this Hyperliquid right now. If you haven’t heard of it yet, it’s already bigger than Nasdaq, okay? We weren’t scared by it. In fact, we’re in communication with them, and we’re trying to understand this space.”
This is an official confirmation from ICE in a public setting: the company is actively reaching out to Hyperliquid, rather than viewing it as a competitor to be avoided.
Confirmed facts from ICE’s announcement
On May 13, 2026, ICE officially announced that Sprecher will speak at the Bernstein 42nd Annual Strategic Decisions Conference, with the talk scheduled for May 27, 2026 (Wednesday) at 2:30 p.m. ET. ICE is a Fortune 500 company; the exchanges it operates include the NYSE, and it provides fintech and data services across major asset classes.
FAQs
On what basis does Sprecher say Hyperliquid is bigger than Nasdaq?
In his speech, Sprecher did not specify the specific comparison dimensions he used (such as trading volume, open interest size, or other metrics). He only described through this framing that Hyperliquid has already drawn enough attention from ICE to trigger proactive outreach and further understanding.
What exactly does “ICE is in communication with Hyperliquid” mean?
Based on Sprecher’s public remarks, ICE is “trying to understand this space,” and it also clearly stated that it was “not scared by it.” The specific forms of engagement, topics, or follow-up plans between the two were not disclosed in this speech.
Is there a complete recording of this talk that can be accessed?
Yes. When announcing the speech, ICE confirmed that the related content will be provided via live webcast and replay through ICE’s investor relations website (ir.theice.com), allowing viewers to review the full talk online.
