Hyperliquid Strategies Inc., the largest publicly traded company holding HYPE reserves, reported a $620.6 million profit for the third quarter. The result was driven mainly by $803 million in unrealized gains on 38.9 million HYPE tokens, acquired at an average cost of $56.35 each. The company raised $911 million in equity and spent $785 million to buy 9.1 million HYPE tokens. Its subsidiary also applied to register as a futures commission merchant in the United States so it can serve permissioned markets under HIP-3, which is still awaiting regulatory approval.
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