Hyperliquid Strategies Inc is a Nasdaq-listed company (ticker PURR) whose main asset is a treasury of HYPE. It formed through a merger with Sonnet BioTherapeutics that closed on 2 December 2025, backed by sponsors including an affiliate of Paradigm. CEO is David Schamis; Bob Diamond chairs the board.
The company reported about 29.3M HYPE at its fiscal-year results in August 2026, held with Anchorage Digital Bank and substantially all staked. In May 2026 it launched the "Hyperliquid Strategies x Unit" validator with Unit Labs, with HSI treasury HYPE forming most of the stake.
