The company formerly known as Sonnet Biotherapeutics Inc. has announced its rebranding to Hyperliquid Strategies Inc. (HSI) following its merger with a new entity called Rorschach.
Rebranding and New Name
Following a successful merger with a new entity, Sonnet Biotherapeutics has decided to change its name to Hyperliquid Strategies Inc. (HSI). This change marks a significant step in the company’s transformation.
Key Financial Strategy Aspects
HSI is implementing a new treasury model focused on the HYPE token. The company plans to hold over 12 million tokens and retain $305 million in cash, bringing the total asset value to $888 million.
Support from Major Investors
Hyperliquid Strategies Inc. is backed by heavyweight investors such as Paradigm, Galaxy Digital, Pantera Capital, and D1 Capital. These investors highlight the challenges of acquiring HYPE directly in the U.S., making HSI a potential gateway for equity exposure to this cryptocurrency.
In conclusion, the rebranding and new financial strategy of Hyperliquid Strategies Inc. emphasize the company's ambition to become a significant player in the cryptocurrency market, offering new opportunities for investors.
