HYPD News & Events

Hyperion DeFi has engaged with the Rysk protocol to launch a new institutional-grade, on-chain yield-enhancement vault native to the HyperEVM. Through this vault, Hyperion DeFi and its institutional partners will be able to utilize HYPE Liquid Staking Tokens and stablecoins as collateral for on-chain options strategies, generating additional yield beyond staking income. Hyperion DeFi will initially deploy the vault for its own balance sheet before selectively opening access to other qualified participants. Participants will be gated through HiHYPE which is minted exclusively by staking HYPE to the 'Kinetiq x Hyperion' validator. This structure is designed to create a controlled, institutional-only access model while driving incremental, diversified fee revenue to Hyperion DeFi over time.

Hyperion DeFi issued a letter to shareholders from its Chief Executive Officer, Hyunsu Jung. "On June 17, 2025 we underwent a massive transformation from Eyenovia, a company building ophthalmic technology, to Hyperion DeFi - the first U.S. publicly listed company holding HYPE, the native token of the Hyperliquid blockchain, on its balance sheet. Last summer, while most Digital Asset Treasury companies launched with the standard "buy-and-hold" strategy, we moved with speed and precision to deploy our treasury asset to establish differentiated business lines and strengthen our operational positioning.. Our actions showcase our firm belief: we win by positioning Hyperliquid and its ecosystem to win. We trust in the Hyperliquid core team to continue building an exceptional on-chain product in HyperCore, while improving the infrastructure on HyperEVM so that our partners can continue to develop applications that can serve retail and institutional users... Hyperliquid's protocol revenues in 2025 showcase what is possible when next-generation infrastructure is built using blockchain rails: Hyperliquid became the highest revenue-generating blockchain network, accounting for over 30% of all blockchain fees at its peak in Q3 2025...The digital asset space has shown time and time again that those that engage early - with conviction backed by a calculated outlook on the future - are rewarded. Hyperion DeFi is the first-mover building comprehensive exposure to the Hyperliquid blockchain ecosystem, and if done correctly, we expect to serve as the ideal gateway for both retail and institutional investors to access the most valuable components of Hyperliquid. By deploying markets that are globally accessible and trading 24/7, we can generate revenues regardless of the price of HYPE. Secondary to the launch of markets are the various entities that come to Hyperliquid - specifically to trade on those new markets - which we service through HAUS. All together, we have a business that we believe will grow more powerful with scale - HYPE deployed to the right partners means that more markets can be created, which are the very products that can bring more global users to Hyperliquid."

Hyperion DeFi announced that its Board of Directors has appointed Hyunsu Jung as CEO, effective immediately. "I am honored to step into the CEO role at Hyperion DeFi during this important phase for the digital asset industry," said Jung. "Our focus is on building a leading Hyperliquid-native DeFi company that supports global adoption, monetizes growth through disciplined on-chain strategies, and provides shareholders with meaningful exposure to the expansion of the Hyperliquid ecosystem. As the market continues to prioritize fundamentals and sustainable revenue models, we believe Hyperion DeFi is well positioned to differentiate itself in 2026 and beyond." In addition to the CEO appointment, Robert Rubenstein will be joining as General Counsel, effective January 12, 2026.

As bitcoin, ethereum and other cryptocurrencies see major legal, institutional, and technological developments, the financial landscape continues to adapt. Stay up on the crypto news that matters with the "Crypto Currents" weekly from The Fly. Also, join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.COINBASE TO ACQUIRE THE CLEARING COMPANY:Coinbaseannounced Monday that it hasa prediction markets company "innovating at the frontier of regulated, onchain markets." The company said, "The team brings deep expertise that will help power and scale prediction markets on Coinbase, accelerating our roadmap toward being the Everything Exchange." This transaction is subject to customary closing conditions and is expected to close in January, Coinbase added. Coinbase did not disclose financial terms of the deal.Additionally, Clear Street announced the firm'sKey themes next year will be tokenization, artificial intelligence fraud, automatic shopping, a recovery in initial public offerings, and lower interest rates, the analyst said. Clear Street names Nasdaq, Coinbase and S&P Globalas its top FinTech ideas for 2026.CIPHER MINING ACQUIRES OHIO SITE:Cipher Miningannounced Tuesday the, called "Ulysses." The transaction includes 195 acres of land and secured capacity from AEP Ohio. All utility agreements required to support the development of the site are in place, and the site is on track to energize in 4Q27. When energized, the site will give Cipher direct access to PJM, the nation's largest wholesale electricity market. With the addition of this site, Cipher's development pipeline now totals 3.4 GW across 8 sites."Hyperscalers are driving unprecedented demand for large-scale sites," said Tyler Page, CEO. "Leveraging our proven sourcing capabilities, Cipher is continuing to seize the opportunity to shape the future of high-performance computing infrastructure. This new site, in a new power market, gives us additional capacity to continue expanding our HPC hosting business while broadening our geographical footprint."HUT 8 PRICE TARGET RAISE:Benchmark raised the firm's price target on Hut 8toon the shares. The announcement of a comprehensive AI/HPC infrastructure transaction at the River Bend campus "represented a defining moment in the company's strategic evolution from a crypto-native power owner to a scaled, institutional-grade digital infrastructure platform," the analyst said. The firm sees "superior deal economics" relative to peer deals, the analyst added.Meanwhile, Roth Capital kepton Hut 8. The company has signed one of the more favorable high-performance-compute lease agreements announced, with 245MW capacity to Fluidstack valued at $7B and 97% operating margins, including a full backstop from Google, the analyst said. Its improved economics and backstop have positioned Hut 8 to secure more favorable project financing terms, the firm said. Combined with construction partners and Fluidstack's optionality on behalf of Anthropic, this enables Hut 8 to scale its power portfolio to more than 2GW, the firm added.GEMINI PRICE TARGETS LOWERED:Morgan Stanley lowered the firm's price target on Geminitoon the shares. Healthy transactional activity across brokers and exchanges in Q4 drives modest positive revision risk, noted the analyst in a preview. The analyst is raising Q4 EPS estimates by 5% on average, leaving the firm in-line with consensus, the analyst noted.Meanwhile, Mizuho lowered the firm's price target on Gemini toon the shares. To reflect softening crypto trading activity in Q4, the firm reduced Gemini's volume assumptions for the quarter. After a "strong" Q3, the markets have been volatile Q4, driven by a risk-off shift that dampened spot trading volumes broadly, the analyst said. Despite near-term headwinds, Mizuho remains constructive on Gemini's outlook, citing positive developments on the product, regulatory, and competitive fronts.JPMORGAN WEIGHS CRYPTO TRADING FOR INSTITUTIONS:JPMorganis evaluating offeringas large banks expand their involvement in the asset class, Bloomberg's Anna Irrera reported Monday, citing a person familiar with the matter. The bank is assessing products its markets division could offer, potentially including spot and derivatives trading, in response to rising client demand and a changing U.S. regulatory environment, according to the report. The move would mark a significant shift for the bank, whose CEO Jamie Dimon previously dismissed bitcoin but has recently shifted his rocky view to a more pragmatic one.OTHER CRYPTO NEWS:Strategyreportsmade December 15 to December 21Bitmine ImmersionannouncesChardan initiates coverage of,SRx HealthannounceFold Holdingsto be includedJiuzisignswith EXSAT.NETWORKShift4 PaymentslaunchesCangoinitiated withTrust Stamp, Blue Goldenter LOIStablecoin startups reportedlyCRYPTO STOCK PLAYS:Publicly traded companies in the space include Bit Digital, Coinbase, Core Scientific, Greenidge Generation, Mara Holdings, Strategy, Riot Platformsand TeraWulf.PRICE ACTION:As of time of writing, bitcoin rose roughly 1% this week at $88,733 in U.S. dollars, according to CoinDesk.