[Wu Blockchain News] Largest HYPE Treasury Firm Hyperliquid Strategies Seeks US Futures Commission Merchant Registration, Reports $620.6M Quarterly Profit

It raised $911 million in equity capital during the quarter and spent $785 million to buy roughly 9.1 million HYPE tokens. As of October 28, holdings totaled about 38.9 million HYPE at an average cost of $56.35 per token. The FCM application matters because approval would give the HYPE treasury model a regulated US derivatives foothold and a new fee-generating business line. Next, watch whether the registration is granted and how quickly permissioned HIP-3 perp markets onboard US clients.