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BREAKING12:21 AM
Whale Fat-Fingers $2M HYPE Sell Order, Triggering 2.6% Flash Crash↗
Alert00:21

Whale Fat-Fingers $2M HYPE Sell Order, Triggering 2.6% Flash Crash

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24H Summary: Hyperliquid Integrates Native USDC & French Bank BPCE Enters Crypto

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CZ Emphasizes Strict Private Key Isolation for Hardware Wallets

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Jupiter Team Admits 'Zero Risk' Claim Inaccurate Amid Rehypothecation Scrutiny

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Alert

Sonnet BioTherapeutics Shareholders Approve Merger With Hyperliquid Strategies and Plan for ~$1B On-Chain HYPE Treasury

12/02/2025, 14:18
12/02/2025, 15:38
AI SUMMARY
●Sonnet BioTherapeutics shareholders have approved a proposed merger with Hyperliquid Strategies Inc., clearing a key step for the business combination.
●The deal centers on Hyperliquid DAT, led by Paradigm, with the merged structure expected to support an on-chain HYPE treasury targeted at roughly $1 billion.
●Hyperliquid Strategies is being positioned as a high-tier, multi-point ("Quintuple-Point") Digital Asset Trust to manage and grow this HYPE-linked on-chain treasury.
Sonnet BioTherapeutics Holdings, Inc. has announced that its stockholders approved the proposed business combination with Hyperliquid Strategies Inc., according to a company statement and Reuters-cited reports. The approval clears a key step for the transaction, with further execution details still pending from the companies. Additional reporting notes that the approved deal involves Hyperliquid DAT, described as an entity led by Paradigm that Sonnet plans to go live with after the merger. Hyperliquid Strategies is being framed as a multi-faceted Digital Asset Trust (DAT) structure, intended to support various crypto-related initiatives post-closing. New details indicate that the combined structure is expected to support a large on-chain HYPE treasury, with reporting suggesting a target size of roughly $1 billion. Hyperliquid Strategies is being positioned as a high-tier, multi-point (sometimes described as "Quintuple-Point") DAT, designed to manage and grow this HYPE-linked treasury on-chain. [Update 1] - Added specifics that the post-merger structure is expected to support an on-chain HYPE treasury of up to approximately $1 billion. - Clarified that Hyperliquid Strategies is being positioned as a high-tier, multi-point/"Quintuple-Point" Digital Asset Trust (DAT) focused on managing the HYPE treasury. - Incorporated additional sourcing from the latest governance and market commentary on the transaction.

Sources (3)

01@KobeissiLetter↗02@Crypto_Briefing↗03Aggr News↗
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