Key Takeaways
- Hyperion is a leading HYPE treasury with over 1.71 million HYPE tokens.
- Crypto treasury firms are rapidly emerging as a new favorite for institutional investors.
- BTC, ETH, SOL, and BNB are some of the top crypto picks for digital asset treasury companies.
David Knox, a heavyweight from global payments behemoth PayPal, is making an ambitious career move and has become the Chief Financial Officer of Hyperliquid-centric Digital Asset Treasury (DAT) firm, Hyperion DeFi.
New CFO of Hyperion DeFi Inc
As per Bloomberg, PayPal’s former Head of Capital Markets and Head of Finance for Global Credit and Financial Services, David Knox, has been appointed the CFO of Hyperion DeFi Inc.
It’s a DAT firm dedicated to the ongoing acquisition of HYPE tokens, the native crypto of Hyperliquid, a rapidly growing decentralized exchange (DEX).
Knox had only spent a couple of years at PayPal, and prior to this, he’d been vice president of SoFi Technologies and director for asset-backed finance for Cantor Fitzgerald.
After going “down the rabbit hole” with Hyperliquid, Knox explains that he developed the “strong” view that it’s an “incredible opportunity to be at the cutting edge of financial innovation”, which is something he believes will never happen again in his career.
Most recently, the firm announced an additional $10 million acquisition, raising its total holdings to 1,712,195 HYPE worth roughly $79 million, with HYPE priced at $46.09.
Purchased at an average of $48.25 per token, Hyperion’s HYPE treasury carries an unrealized profit of approximately $13.4 million.
This currently makes Hyperion’s treasury the largest of its kind, far outpacing Lion Group Holding’s 128,929 HYPE stash.
The DAT Business
Crypto treasuries are a rapidly emerging trend in institutional adoption.
Having pioneered the Bitcoin (BTC) treasury, Michael Saylor’s Strategy is the trend-setter, and others such as Metaplanet are hoping to replicate its success.
But now, the appeal has spread beyond the biggest crypto on the market, and firms are vying to acquire billions of dollars in altcoins such as Ethereum (ETH), Solana (SOL), Sui (SUI), and Binance Coin (BNB).
They often begin as pre-existing companies that are already publicly traded on major stock exchanges like the Nasdaq.
Hyperion used to be known as Eyenovia, and its primary business was in developing pharmaceuticals and devices for eye care. It rebranded to Hyperion DeFi Inc., and changed its ticker symbol to HYPD on the Nasdaq in July 2025.
Dozens of other companies are making similar moves and are either converting their often-struggling business into a crypto treasure trove or launching entirely new entities for their DAT ambitions.
Some firms are opting to continue their main business line while adopting DAT strategies.
For example, Upexi is a firm specializing in consumer retail supply chains. Recently, it announced it had managed to offset its yearly business losses with the paper gains it made from its Solana (SOL) treasury strategy.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
