A Nasdaq-listed biotech company, Eyenovia, Inc., has announced a bold foray into the cryptocurrency space by investing $50 million to acquire over one million Hyperliquid (HYPE) tokens. As detailed in a June 17 press release, Eyenovia is the first publicly traded U.S. company to hold HYPE as part of its treasury and to operate as a Hyperliquid blockchain validator. The financing deal includes convertible preferred shares and warrants that could increase funding to $150 million if fully exercised.
Alongside this strategic investment, Eyenovia appointed Hyunsu Jung as its chief investment officer to oversee its digital asset strategy. CEO Michael Rowe emphasized the company’s belief that this cryptocurrency allocation supports long-term capital appreciation and shareholder value.
Hyperliquid’s HYPE token is a fast-growing asset within decentralized finance, ranking as the 12th-largest cryptocurrency by market capitalization. It reached an all-time high of $45.57 on June 16, though it has since corrected slightly to $40.24. Hyperliquid’s Layer 1 blockchain specializes in perpetual futures trading and has gained significant traction, accounting for 60% of on-chain perpetual swap volume in the past month with over $250 billion traded, rivaling major centralized exchanges like Binance.
Eyenovia plans to implement a staking strategy with its HYPE holdings, utilizing Anchorage Digital for custodial security, and intends to rebrand to "Hyperion DeFi" with a ticker change to HYPD. The company will continue to develop its flagship Optejet eye treatment device alongside expanding into crypto.
This move signals growing corporate interest in integrating digital assets into treasury holdings beyond traditional cash, bonds, or Bitcoin. While the investment carries risks due to crypto volatility and regulatory uncertainties, it also reflects Eyenovia’s forward-thinking approach and has potential positive implications for HYPE's demand and network growth.