Sonnet BioTherapeutics Transforms into Digital Asset Treasury, Valued at $305 Million

In a groundbreaking move that signifies the intersection of traditional finance and blockchain technology, Sonnet BioTherapeutics has voted to become a digital asset treasury firm. This significant shift sees the Nasdaq-listed biotech company merging with Rorschach I LLC to transform into Hyperliquid Strategies, boasting a $305 million cash reserve and a massive stash of HYPE tokens. This transition marks a pivotal moment in financial history as publicly traded companies are formally embracing digital assets for business strategies beyond mere side investments.