DoubleZero has launched five Hyperliquid data feeds on Edge, giving subscribers a live view of the exchange’s order book and trade[XYZ] markets over dedicated fiber.

According to a Sep. 24 announcement from the DoubleZero Foundation shared with crypto.news, the new service delivers Hyperliquid market data in a machine-readable format for trading firms, market makers and quantitative desks. The launch was built with Hyperliquid validator operators and ecosystem partners Hyperion DeFi, MAVAN and Kinetiq.

Subscribers can receive four market data feeds covering Hyperliquid’s native perpetual futures and trade[XYZ] markets under HIP-3, the system that lets outside teams create perpetual futures markets on Hyperliquid. A separate feed carries order intents from mempool transactions. Together, the products give firms information they can use in their own pricing, hedging and trading systems, according to DoubleZero.

The foundation said the feeds are available now through a paid subscription. Its website lists prices, and each subscription includes two IP addresses per region.

Hyperliquid feeds replace work firms did through public APIs

For firms tracking many contracts at once, DoubleZero said, maintaining a current order book has meant collecting public API responses, managing WebSocket connections, and rebuilding the book on their own systems. Changes to Hyperliquid’s public APIs have reduced the update frequency and depth available through those endpoints, according to the announcement.

Edge instead sends subscribers a sequenced feed across DoubleZero’s fiber network. The company says its infrastructure draws on validator operators and partners in Tokyo to provide a view of Hyperliquid’s order book. It describes the service as its fastest commercially available Hyperliquid feed, though the announcement does not include comparative latency measurements.

The distinction matters for automated systems that act on changes in bids, offers and completed trades. DoubleZero says a delayed or missed update can affect whether a trading strategy fills an order. Its product supplies the data path; firms still use their own systems to decide whether and how to trade.

In a September interview about Kalshi, DoubleZero co-founder Austin Federa described Edge as a read-only data service without order-entry or execution functions. That account explains the role the company has assigned to its distribution platform, although the Hyperliquid announcement does not set out separate execution terms for the new feed.

Trade[XYZ] brings commodity markets into the feed

The Hyperliquid package includes trade[XYZ]’s HIP-3 contracts tied to assets such as oil, gold and silver. Unlike a conventional futures contract with an expiration date, a perpetual contract can remain open while funding payments help keep its price close to the reference asset.

The size of those markets gives the data launch a use beyond crypto pairs. A September report covered by crypto.news put trade[XYZ] Q2 volume at $202.36 billion, up 79.2% from the previous quarter, based on research by GLC Research, Four Pillars, Arrakis and GRZ Research. The report also estimated that trade[XYZ] accounted for 95.1% of HIP-3 trading volume during the quarter. Those figures came from external research, rather than audited company results.

DoubleZero said Hyperliquid as a whole processed more than $662 billion in trading volume in Q2. Its launch statement presents the growth of crypto and asset-linked perpetuals as a reason firms need a consistent stream of market data, particularly when the contracts continue trading outside the hours of established exchanges.

“When traditional markets are closed, oil and other assets still trade, they just trade somewhere else,” Federa said in the announcement. He compared Edge’s publish-once distribution model with the market data systems used by NYSE, Nasdaq and CME.

DoubleZero adds Hyperliquid after Kalshi and Solana

Hyperliquid is the third venue on Edge. In August, Kalshi opened its order book to Edge subscribers, starting with Level 1 and Level 2 data for sports contracts and crypto perpetual futures. Level 1 covers the best bid and ask and completed trades; Level 2 shows orders at multiple prices. DoubleZero had earlier introduced Edge with Solana validator data.

The Kalshi rollout also showed how DoubleZero distributes venue data: a publisher sends information once, and the network delivers it to connected subscribers. Hyperliquid adds another source to that service, with feeds spanning its native contracts and markets operated by an outside HIP-3 deployer.

Hyunsu Jung, CEO of Hyperion DeFi, said his firm is participating in the launch alongside Kinetiq and MAVAN. DoubleZero named the three as ecosystem partners but did not assign each one a separate technical role in the announcement.

U.S. energy proposal remains before the CFTC

The Hyperliquid feeds include markets relevant to a U.S. regulatory debate, though a market data subscription does not, by itself, authorize trading a contract in the United States. In August, Hyperliquid Policy Center and trade[XYZ] asked the CFTC to permit regulated perpetuals tied to West Texas Intermediate crude, Brent crude and Henry Hub natural gas. Their filing argued that continuous contracts could let U.S. firms manage energy exposure during weekends.

The Commodity Futures Trading Commission was reviewing questions about continuous energy trading and perpetual contract design, including reference prices, surveillance, margin and customer safeguards. The agency had not approved the proposed energy products when the groups submitted their filing in August.

DoubleZero’s announcement also referred to an August signal from the U.S. president about a possible compliant path for Hyperliquid. It did not identify an approval, a launch date for U.S. trading, or a change to the platform’s existing access rules.

For the present launch, DoubleZero says the five Hyperliquid feeds are available by subscription through its website, with two subscriber IP addresses included per region.

The next big opportunity is in assets that offer higher returns and behave differently from crypto markets, CEO Viktor Fischer said in an interview with CoinDesk.

“Our thesis going forward that after trading, yield will be the largest use case onchain” Fischer said. For that, “we need new sources of yield, 12% plus, uncorrelated to crypto,” he added.

Catapult will focus on areas including trade and supply-chain finance, specialty asset-backed securities, CLOs and real-estate-related credit.

Fischer said the appeal of putting less-liquid assets onchain is that market makers can create an exit even when the underlying investment has lengthy redemption periods.

RockawayX is looking for traditional finance professionals who know how to originate and underwrite those assets, then pair them with crypto-native operators who can help structure and distribute them onchain.

“The hard part of RWAs was never tokenization. It’s everything after: who buys the asset, where it trades and what happens when someone needs to get out,” Fischer said.

Solana Foundation has appointed former Binance chief marketing officer Rachel Conlan as chief strategy officer and former Polygon Labs executive Jamal Raees as general manager of payments.

Conlan will lead strategy across institutional partnerships, ecosystem growth and efforts to bring businesses onto Solana, the foundation said Thursday. She spent three years at Binance and previously held senior roles at OKX, CAA Sports and Havas.

Raees said he would deepen the foundation’s engagement with major payments companies and focus on infrastructure used by teams building payment services on Solana.

“My focus will be on driving greater adoption and usage of stablecoins and tokenized deposits, with an emphasis on global markets,” he said in a statement provided by Solana Foundation.

The appointments follow the March launch of the Solana Developer Platform, which includes Modern Treasury as a payments infrastructure partner. Mastercard and Western Union were named as early users of the platform.

Separately, Amazon Web Services included Solana among the networks supported by its x402 feature, which lets website owners charge AI agents in USDC for access to content.

Solana is preparing to deploy Alpenglow, a planned network upgrade intended to reduce transaction finality from about 12.8 seconds to roughly 150 milliseconds. The faster finality remains a target for the upgrade.

The network has processed more than $5 trillion in stablecoin volume so far in 2026. It also reported more than $4.5 billion in real-world assets on the network and more than $620 million in tokenized equity supply.

Related: Era of pure crypto exchanges is ending, Bybit CEO says

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The Solana Foundation has appointed former Binance executive Rachel Conlan as its new chief strategy officer, adding a high-profile crypto industry veteran as the Solana (SOL) blockchain makes a bigger push into institutional finance and tokenized assets.

Conlan will lead strategy across institutional partnerships, ecosystem growth and efforts to bring more companies onto Solana, the foundation said Thursday. She spent previously three years at Binance, most recently as global chief marketing officer, before leaving the crypto exchange in June.

The foundation also hired Jamal Raees as general manager for payments. Raees joins from Polygon Labs, the development organization behind the Polygon network (POL), and previously worked at stablecoin infrastructure firm Bridge (now part of Stripe) and crypto payments firm Wyre. He will focus on getting payments companies and other businesses to use Solana for moving money.

The appointments come as Solana increasingly courts traditional financial firms and positions its network as infrastructure for more than crypto trading. Stablecoin payments, tokenized funds and equities have become a bigger part of that pitch as financial institutions experiment with moving assets and settlement onto public blockchains.

Cathie Wood’s ARK Invest is putting its venture fund on blockchain rails, bringing a portfolio that includes stakes in OpenAI, Anthropic, Stripe and Databricks onto blockchain rails.

The ARK Venture Fund (ARKVX) will issue tokenized interests using infrastructure from Securitize (SECZ), with the tokenization firm handling onchain issuance and the investor experience.

ARKVX will be first available on Ethereum with other networks potentially following, the firms said.

“Making the ARK Venture Fund available onchain is a natural extension of our mission to democratize access to technologically enabled disruptive innovation,” Wood, ARK’s founder, CEO and chief investment officer, said in a statement.

For Securitize CEO Carlos Domingo, one draw is giving investors diversified exposure to sought-after private technology companies.

“If you don’t know whether OpenAI or Anthropic are gonna win the AI race, here you get both of them in a diversified pool,” Domingo told CoinDesk TV.

NEW YORK (AP) — Pressure from the U.S. bond market hit a new level on Wall Street Wednesday after a surprisingly strong report on the economy raised worries about inflation, while oil prices halted their slide. The squeeze caused U.S. stocks to sink.

The S&P 500 fell 0.8% after finishing the prior day just 0.4% below its record set last month. The Dow Jones Industrial Average dropped 352 points, or 0.7%, while the Nasdaq composite sank 1.1% from its own all-time high.

Stocks wilted after the yield on the 10-year Treasury jumped to 5.10% from 4.96% late Tuesday, which is a considerable move for the bond market. High yields undercut prices for stocks and other investments, while also slowing the economy by making it more expensive for everyone to borrow money.

Wednesday’s jump briefly sent the 10-year yield near 5.14%, back to where it was in 2007 before the global financial crisis caused yields to crater. Yields have been climbing since bottoming out in the COVID pandemic, and they’ve accelerated recently because of worries about high inflation, the U.S. government’s heavy debt and other concerns.

Worries about inflation got a jolt Wednesday morning after a preliminary report suggested growth in U.S. business activity surged to its strongest level in more than five years. That’s an encouraging signal, to be sure, but it indicates the economy may have plenty of fuel for more inflation.

The report also suggested costs for businesses are leaping at the fastest rate in four years, in part because of more expensive oil, according to Chris Williamson, chief business economist at S&P Global Market Intelligence. That could mean businesses will pass those higher costs onto their customers in coming months.

Oil prices are high because of worries that the war with Iran will keep oil bottled up in the Middle East for a long time.

The price for a barrel of Brent oil to be delivered in November rose 3.9% to $103.08 on Wednesday. That reversed a decline for Brent, which had been falling since it neared $110 last week. Talks are continuing with mediators between U.S. and Iranian officials, but nothing concrete has come from it yet.

Brent oil to be delivered in December, where most of the trading in the market has moved, rose 2.8% to $98.12 per barrel.

Even with its recent decline, the price for a barrel of Brent remains much higher than the roughly $72 it cost before the war with Iran began.

Inflation has remained so stubbornly high that the Federal Reserve raised its short-term interest rate last week for the first time in three years in hopes of slowing down increases in the cost of living.

Fed Gov. Michael Barr said in a speech on Wednesday that further hikes “are likely to be needed” to get inflation to the Fed’s 2% target. Traders now see better than a 50% probability that the Fed will hike its federal funds rate at each of its next two meetings, in October and December, according to data from CME Group.

So far, strong growth in profits for U.S. companies has helped support the U.S. stock market despite higher interest rates and more expensive oil.

KB Home became the latest to deliver a stronger profit for the latest quarter than analysts expected. But its stock nevertheless swung between losses and gains after the homebuilder’s executive chairman said conditions got even tougher for the industry over the last three months. It finished with a loss of 3%.

Potential customers are becoming more cautious because of higher mortgage rates caused by the rise in the 10-year Treasury yield. They also are feeling pressure from “geopolitical uncertainty and broader economic headwinds,” Jeffrey Mezger said.

General Mills likewise reported a stronger profit for the latest quarter than analysts expected. But the company behind the Cheerios and Progresso brands said it also expects growth this fiscal year to fall below its historical track record “driven by a continued challenging consumer backdrop,” and it did not raise its forecast for profit over the full fiscal year.

Its stock flipped between gains and losses before rising 1%.

All told, the S&P 500 fell 58.61 points to 7,706.03. The Dow dropped 352.10 to 51,511.59, and the Nasdaq composite sank 308.24 to 26,936.04.

In stock markets abroad, indexes slipped across much of Europe and Asia.

Stock indexes fell 1% in Hong Kong and 0.4% in Shanghai ahead of Chinese President Xi Jinping’s state visit to Washington, which is kicking off Wednesday.

The leaders are expected to attempt to steady fragile ties in their third meeting since Trump returned to the White House. That is despite the world’s two largest economies seeking the upper hand on artificial-intelligence developments and trade, while pushing for leverage in persistent hot spots like Iran and Taiwan.

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AP Business Writers Chan Ho-him and Michelle Chapman contributed to this report.