CMC News

$HYPE Treasury Hyperliquid Launches $30M Buyback Program

The publicly traded $HYPE treasury company has approved a $30 million share repurchase program just days after officially launching operations. #Hyperliquid Strategies announced the 12-month buyback authorization on Monday, joining other digital asset treasury firms implementing stock support measures.

CEO David Schamis said the board's decision reflects a commitment to shareholder value through strategic treasury management. The company plans to deploy cash in ways that boost investor exposure to $HYPE on a per-share basis, prioritizing capital efficiency in its approach.

The announcement comes unusually early in the company's lifecycle. Most digital asset #treasury firms establish buyback programs after operating for extended periods, but Hyperliquid Strategies implemented its plan within days of launching as a public entity.

The firm resulted from a merger between Sonnet BioTherapeutics, a healthcare technology company, and Rorschach, a special-purpose acquisition vehicle connected to prominent crypto investor Paradigm. Originally scheduled for November completion, the deal closed Dec. 2 after shareholders initially failed to provide sufficient approval.

Trading began Dec. 3 under the ticker PURR on #Nasdaq. Shares changed hands at $3.64 on Monday, representing a slight decline from the listing price. The company filed for authority to raise up to $1 billion through equity sales in October, establishing capacity for substantial $HYPE acquisitions.

Hyperliquid Strategies stated it would stake most #token holdings or deploy capital in decentralized finance activities that generate yields. The approach mirrors strategies used by other publicly traded #cryptocurrency treasury operations that combine passive staking with active yield farming.