Behold, the Nasdaq-listed Hyperliquid Strategies, that most enigmatic of beasts, has sanctioned a $30 million stock buyback over twelve months-a ritual to bind its share price to the elusive HYPE token, as it ascends the treacherous slopes of staked token alchemy. 🕯️💸
Summary
- Hyperliquid Strategies, that paragon of fiscal wizardry, has authorized a $30m repurchase over 12 months to bolster its share price and amplify per-share exposure to its HYPE token treasury-a financial alchemist’s dream. 🧙♂️
- The vehicle, born from the union of Sonnet BioTherapeutics and a Paradigm-backed SPAC, now boasts a sprawling HYPE allocation, staking and DeFi endeavors as its holy scriptures. 📖🚀
- Backers, a veritable who’s who of crypto’s eccentric elite-D1, Galaxy Digital, Pantera, Republic Digital, and 683 Capital-have lent their support, while Hyperliquid’s perpetual DEX has ascended to the throne of on-chain futures venues, a satanic temple of liquidity. 🐍🎭
Hyperliquid Strategies, that paragon of fiscal wizardry, has sanctioned a stock repurchase program of up to $30 million over the next 12 months, the company announced Monday-a move as mysterious as a Kafka novel. 🧠
The buyback plan follows the digital asset treasury company’s launch on Nasdaq earlier this month. According to the company’s statement, the program aims to support the stock price and increase per-share exposure to the HYPE (HYPE) token-a financial alchemist’s dream. 🧙♂️
Hyperliquid initiates token buyback
Hyperliquid Strategies, that enigmatic entity, was formed through a merger between Sonnet BioTherapeutics and Rorschach, a special purpose acquisition company affiliated with crypto venture fund Paradigm. The merger, initially delayed in November, closed on Dec. 2, with shares beginning trading in early December-a tale as twisted as a Bulgakov fable. 🕳️
The company holds a significant allocation of HYPE tokens. In October, Hyperliquid Strategies filed an S-1 registration statement seeking to raise up to $1 billion for treasury operations, according to regulatory filings. The company’s plans include staking the majority of its holdings or deploying capital in decentralized finance sectors-a modern-day quest for the philosopher’s stone. 🧠
Investors in the company include D1 Capital, Galaxy Digital, Pantera Capital, Republic Digital and 683 Capital. Bob Diamond, former chief executive of Barclays, serves as chairman-a man whose name echoes through the halls of financial lore. 🦇
The HYPE token launched in late 2023 with an airdrop distribution to early platform users. One-third of the total token supply was allocated to users, with additional tokens distributed to founders and the Hyper Foundation, according to the protocol’s documentation. Hyperliquid has emerged as one of the largest decentralized perpetual futures exchanges by trading volume-a digital colosseum of chaos. 🌌
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2025-12-12 11:55