Hyperliquid Raises $1 Billion via IPO, Plans $HYPE Token Buybacks

Crypto firm Hyperliquid has filed an S-1 registration with the U.S. SEC to raise up to $1 billion through a public offering of 160 million shares. Part of these funds will be dedicated to buying back its native token, $HYPE. This strategy is generating excitement within the crypto community as it could boost investor confidence and strengthen the token’s market price by reducing supply. Hyperliquid’s move comes amid a trend of crypto firms seeking traditional funding sources to expand their operations.