In a move that is turning heads on both Wall Street and Crypto Twitter, Eyenovia, a Nasdaq-listed biotech firm, has rebranded itself as Hyperion DeFi (HYPD) and made history by becoming the first U.S. public company to invest $50 million directly into HYPE tokens, the native currency of the Hyperliquid decentralized finance protocol. This is not just a cosmetic change, it is a signal that the lines between traditional finance and the wild world of DeFi are blurring faster than ever. The market responded in kind, with HYPD’s stock soaring 120% after the announcement, as investors scrambled to get a piece of this bold new hybrid.
The mechanics behind this move are just as fascinating as the headlines. Hyperliquid, the protocol behind HYPE, has pioneered a buyback model that is almost unheard of in both crypto and traditional finance, using a staggering 97% of its $338 million in annual revenue to buy back its own tokens from the open market. With monthly trading volumes now exceeding $2 billion, this creates a powerful feedback loop, more trading means more revenue, which means more buybacks, which in turn can drive the token’s price higher by reducing supply. HYPD’s $50 million investment is not just a speculative bet, it is a strategic move to become a major validator on the Hyperliquid network, potentially earning rewards and influence as the protocol grows.
What makes this development even more significant is that HYPD chose to buy the tokens directly, rather than through an ETF or trust. This signals a new era where public companies might bypass traditional financial wrappers and get their hands dirty with native DeFi assets, seeking not just exposure, but also the benefits of yield, governance, and on-chain participation. Of course, this boldness comes with risks. The crypto market is notoriously volatile, and recently, a large whale sell-off caused a 4% dip in HYPE’s price, reminding everyone that the path to DeFi riches is rarely smooth. Still, with most analysts and crypto insiders staying bullish, and with HYPD’s stock now in the spotlight, this experiment could set the stage for more public companies to follow suit.
HYPD’s $50 million plunge into HYPE tokens is more than a headline, it is a potential turning point in how public companies interact with the crypto world. By embracing native DeFi protocols and aggressive buyback economics, HYPD is betting that the future of finance is not just on Wall Street, but also deep in the blockchain trenches. Whether this gamble pays off or fizzles out, one thing is clear, the era of public companies going on-chain has officially begun.
