Sonnet BioTherapeutics to Launch $888M HYPE Token Treasury After Crypto Pivot

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Nasdaq-listed biotech company Sonnet BioTherapeutics has announced a strategic pivot into crypto, unveiling an $888 million entity to launch a Hyperliquid (HYPE) digital asset treasury. 

On Monday, Sonnet said it formed a business combination with the newly created Rorschach to launch a treasury strategy focused on the HYPE token, the native crypto token of the fast-growing Hyperliquid ecosystem. 

The deal includes transforming Sonnet into Hyperliquid Strategies Inc. (HSI), which is expected to be the largest United States-listed public company…



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Sonnet BioTherapeutics to Launch $888M HYPE Token Treasury After Crypto Pivot



Nasdaq-listed biotech company Sonnet BioTherapeutics has announced a strategic pivot into crypto, unveiling an $888 million entity to launch a Hyperliquid (HYPE) digital asset treasury. 

On Monday, Sonnet said it formed a business combination with the newly created Rorschach to launch a treasury strategy focused on the HYPE token, the native crypto token of the fast-growing Hyperliquid ecosystem. 

The deal includes transforming Sonnet into Hyperliquid Strategies Inc. (HSI), which is expected to be the largest United States-listed public company…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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