Two Robinhood engineers charged in Hyperliquid insider trading case

Two Robinhood engineers, Hefu Chai and Huaisong Xiang, were charged with fraud for allegedly trading Hyperliquid perpetual futures based on non-public token listing information. Prosecutors claim the pair profited over $50,000 each between 2025 and 2026. Hyperliquid previously faced similar allegations in December 2025, which it denied, attributing the activity to a former employee.