Hyperliquid Strategies, the digital asset treasury trading on Nasdaq under the ticker PURR, has seen its shares surge 251% since the start of the year, reaching a market capitalization exceeding $3 billion. The company’s treasury holds over 35 million HYPE tokens worth approximately $3.3 billion. Founded by David Schamis, this DAT raised $888 million in July 2025 from Atlas Merchant Capital and Paradigm. Unlike other DATs that passively accumulate cryptocurrencies, Hyperliquid Strategies operates an active business model by running a blockchain validator and staking its tokens, generating recurring revenue and avoiding the downward spiral that has plagued its competitors this year.
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