• About Us
  • Careers
  • Contact
No Result
View All Result
Monday, October 27, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home Business

Sonnet BioTherapeutics Pivots Into Crypto With $888M Hyperliquid Treasury Strategy

14 July 2025
in Business, Crypto, News
Reading Time: 3 mins read
107 2
source: linkedin.com

source: linkedin.com

Nasdaq-listed biotech firm Sonnet BioTherapeutics is making a bold move into the digital asset space, unveiling plans to launch an $888 million Hyperliquid (HYPE) token treasury under a newly formed entity.

On Monday, Sonnet announced it had entered into a business combination with Rorschach, a company it recently created, to spearhead its new crypto-focused strategy. This move will see Sonnet transform into Hyperliquid Strategies Inc. (HSI), positioning it as the largest publicly traded U.S. company to hold HYPE tokens on its balance sheet.

HSI intends to acquire 12.6 million HYPE tokens, worth approximately $583 million at the time of the agreement. Alongside this, it will hold $305 million in cash reserves, bringing the total value of the entity to $888 million. The company also hinted that part of its cash reserves will be used to purchase additional HYPE tokens going forward.

Hyperliquid, the token at the centre of this pivot, powers a high-throughput layer-1 blockchain designed for onchain trading of perpetual futures and other advanced financial instruments. According to CoinGecko, Hyperliquid currently ranks as the 12th-largest token globally, boasting a market capitalization of $16.2 billion.

Source: CoinGhecko 

By creating HSI, Sonnet offers traditional equity investors indirect exposure to HYPE, bridging the gap between conventional finance and emerging blockchain technologies. This strategy mirrors the approach of Strategy, the business intelligence firm that famously pivoted into Bitcoin investments, giving stock market investors exposure to crypto without direct token purchases.

The initiative is backed by heavyweight institutional investors including Atlas Merchant Capital, Paradigm, Galaxy Digital, Pantera Capital, D1 Capital, Republic Digital, and 683 Capital. Paradigm co-founder Matt Huang described Hyperliquid as a crypto project with robust fundamentals, noting growing institutional appetite for HYPE exposure despite its limited accessibility in the U.S.

Similarly, Eyenovia, Inc., a Nasdaq-listed ophthalmic technology company, announced a significant $50 million investment in Hyperliquid’s native cryptocurrency, HYPE. 

While Sonnet undergoes this significant transformation, it will continue operating its clinical oncology portfolio under HSI’s corporate umbrella.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.                                                                                                       

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Tags: Sonnet BioTherapeutics
Share64Tweet40Share11
Favour Okosodo

Favour Okosodo

Experienced web content writer with a strong command of SEO, specializing in creating concise, engaging content that drives traffic and enhances conversions across diverse industries.

Related Posts

source: ts2.tech
Crypto

Nevada Shuts Down Fortress Trust Amid Insolvency Concerns as U.S. Tightens Crypto Custody Rules

24 October 2025
source: theblock.co
Crypto

Polymarket Bets Spike as Traders See 12% Chance of Trump Pardoning FTX Founder Sam Bankman-Fried

24 October 2025
source: financialit.net
Bitcoin

ChainUp Investment CIO Says Bitcoin Rally Marks Institutional Phase of Digital Assets

24 October 2025
Crypto Bank Sygnum Plans EU and Asia Expansion Following Profitable First Half of 2024
Bitcoin

Sygnum and Debifi Partner to Launch MultiSYG, a Non-Custodial Bitcoin Loan Platform

24 October 2025

Editors Picks

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

byOlajumoke Oyaleke
15 July 2025
0

Where Are the Ethereum-Killers Now?

Where Are the Ethereum-Killers Now?

byOlayinka Sodiqand1 others
6 January 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Exploring the Role of AI in Enhancing DeFi Security

Exploring the Role of AI in Enhancing DeFi Security

byOlayinka Sodiq
1 October 2024
0

The Ultimate Guide to How NFT Royalties Work

The Ultimate Guide to How NFT Royalties Work

byAdedamola Ojedokun
17 April 2024
0

Read More

Chain of Thoughts

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

byOlu Omoyele
27 September 2025
0

...

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Markets Update

Are Ethereum-Based Treasuries Emerging as the Berkshire Hathaway of Crypto?

2 days ago

Is the Crypto Market Now Majorly Driven by Institutions?

2 days ago

CBDCs vs. Stablecoins: Which Has the Market’s Trust?

2 days ago

Your Weekend Crypto Roundup | October 2025 (Week 4)

3 days ago

A New Age of Money: Should Every Currency Have Its Own Stablecoin?

3 days ago

Inside Africa’s Financial Reinvention: The Surge of Stablecoin Adoption

3 days ago
Read More

Events

  • No events
  • Spotlight

    All about Ethereum
    All about Algorand
    All about Bitcoin
    All about Gora

    Press Releases

    MultiBank Group and Khabib Nurmagomedov Launch an Exclusive Worldwide Multi-Billion-Dollar Joint Venture to Build the World’s First Regulated Tokenized Sports Ecosystem.

    bychainwire
    25 October 2025
    0

    RIVER Gains 5x Following Binance Perp Listing, Supported by Time-Encoded Airdrop Conversion

    bychainwire
    24 October 2025
    0

    Trezor Launches Trezor Safe 7: First Hardware Wallet With Transparent Secure Element

    bychainwire
    23 October 2025
    0

    Roba Shatters Closed Systems: The People’s Robotics Platform Launches To Dominate $218b Industry

    bychainwire
    23 October 2025
    0

    Aster Unveils Rocket Launch: A Gateway to Early-Stage Crypto Projects and Trading Rewards

    bychainwire
    23 October 2025
    0

    Read More

    ADVERTISING

    ABOUT

    TEAM

    CAREERS

    CONTACT

    TERMS & CONDITIONS

    PRIVACY POLICY

    © Copyright 2025 DeFi Planet

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • News
      • People
      • Business
      • Crime
      • Regulation
      • Crypto
      • CBDC
    • Markets
      • Bitcoin
      • Ethereum
      • Stablecoins
      • Altcoins
      • Crypto ETFs
      • Memecoins
    • Policy
    • Articles
      • Press Releases
      • Opinion
      • Explainers
      • Guest Post
      • Sponsored
    • Directory
      • Companies
      • People
      • Products
      • Wallets
    • Multimedia
      • Videos
      • Podcasts
    • Learn
      • DeFi Basics
      • Tutorials
      • Reviews
      • Blockchain Fundamentals
    • Research
      • Case Studies
    • Explore
      • DeFi
      • Crypto Gaming
      • NFT
      • DAO
      • Metaverse
      • Glossary
    • Jobs
    • Markets Pro
      • DeFi Planet Pro
      • Spend Crypto
      • Swap Crypto
      • Coin Prices
      • Crypto Exchanges
      • Crypto Analyzer

    © Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

    -
    00:00
    00:00

    Queue

    Update Required Flash plugin
    -
    00:00
    00:00