HYPE token treasury Hyperliquid Strategies rolls out $30 million stock repurchase program

Hyperliquid Strategies (ticker PURR), a major publicly traded digital asset treasury (DAT) holding HYPE tokens, has authorized a stock repurchase program of up to $30 million over the next 12 months. CEO David Schamis stated the objective is to maximize shareholder value by increasing per-share exposure to HYPE, the native token of the Hyperliquid ecosystem, in an efficient manner. This announcement came shortly after the firm officially launched following a merger between Sonnet BioTherapeutics and Rorschach, a SPAC connected to crypto VC Paradigm. Hyperliquid Strategies, which began trading on Nasdaq on December 3rd, aims to provide capital-efficient access to the HYPE token for U.S. and institutional investors, counting D1 Capital and Galaxy Digital among its backers. The protocol itself has grown to become the largest decentralized perpetuals DEX by accumulated volume.

(Source：The Block)