Catenaa, Friday, December 12, 2025- Hyperliquid Strategies authorized a plan to buy back up to $30 million of its stock over the next year.
The move came days after the digital asset treasury launched on Nasdaq under the ticker PURR.
The company said the plan seeks to support the stock and increase per share exposure to the HYPE token.
The board approval was announced Monday.
Hyperliquid Strategies formed through a merger between Sonnet BioTherapeutics and Rorschach, a special purpose acquisition firm tied to crypto venture fund Paradigm.
The merger was delayed in November before closing on December 2. The stock opened trading on December 3 and recently changed hands at $3.64.
The company controls a large HYPE token allocation.
It filed an S 1 in October seeking to raise up to $1 billion for treasury activity. Plans include staking most holdings or using capital in DeFi related sectors.
It counts D1 Capital, Galaxy Digital, Pantera Capital, Republic Digital and 683 Capital as backers.
Former Barclays chief Bob Diamond serves as chairman.
The HYPE token launched in late 2023 with a major airdrop to early users. A third of the supply went to users and additional tokens went to founders and the Hyper Foundation.
The protocol has become one of the largest decentralized perps exchanges by volume. HYPE traded near $29 this week after reaching a record above $59 in September.
Hyperliquid Strategies approved a $30 million stock buyback to boost per share HYPE exposure after launching on Nasdaq.
