Hyperliquid Policy Center and trade[XYZ] propose pre-IPO perpetuals in SEC comment letter

![Hyperliquid Policy Center and trade[XYZ] propose pre-IPO perpetuals in SEC comment letter](https://leviathan-media.nyc3.digitaloceanspaces.com/media/20260818143249_Nk2Q67g52dfN.jpg)
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![Hyperliquid Policy Center and trade[XYZ] propose pre-IPO perpetuals in SEC comment letter](https://leviathan-media.nyc3.digitaloceanspaces.com/media/20260818143249_Nk2Q67g52dfN.jpg)
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