Hyperion DeFi CEO Hyunsu Jung said the company plans to steadily expand its HYPE reserve, which stood at roughly 1.93 million tokens worth more than $166 million, according to CoinGecko. That makes Hyperion DeFi the second-largest HYPE treasury company after Hyperliquid Strategies. The company intends to fund additional purchases with revenue from expanding business lines and access to public markets, while also using its holdings for institutional-grade validator operations, staking (locking crypto to earn rewards), and DeFi (decentralized finance) strategies including lending, borrowing and vaults. Jung said ownership could become more valuable as future Hyperliquid primitives may require HYPE stakes. The company raised its full-year 2026 adjusted gross-profit guidance to $7 million-$8 million from $5 million-$7 million and authorized a $20 million share repurchase program. HYPD stock has risen 37% in a month, while HYPE has gained 58%, amid increased attention after President Donald Trump said the administration was working to bring Hyperliquid's decentralized exchange to the U.S. in a compliant and legal manner.