Hyperliquid Strategies Raises $1B to Expand Its HYPE Token Holdings

Cryptocurrency firm Hyperliquid Strategies has filed a public offering of up to $1 billion, seeking funding to expand its holdings of the HYPE token. This move comes after an $888 million merger between Sonnet BioTherapeutics and Rorschach I LLC formed Hyperliquid Strategies, a new entity focused on decentralized derivatives trading. The funding will be used to invest in additional HYPE tokens and staking, strengthening the company’s position within the rapidly growing DeFi market.