Eyenovia Bets Big: $50M Hyperliquid Token Investment Signals DeFi Confidence

Another day, another nine-figure crypto gamble—but this one''s got teeth.

Eyenovia just dropped $50 million into Hyperliquid tokens, doubling down on decentralized finance while traditional investors still argue about ''blockchain vs. real assets.'' The move screams institutional FOMO as DeFi protocols eat traditional finance''s lunch.

Hyperliquid''s tech stack—built for high-speed derivatives trading—just got a whale-sized endorsement. Meanwhile, Wall Street banks are stuck explaining to clients why their ''crypto desks'' still can''t settle trades in under 24 hours.

Smart money? Reckless speculation? Either way, the liquidity faucet''s wide open—and someone''s getting rich while compliance teams scramble to catch up.

Eyenovia sold shares through PIPE

The latest HYPE purchase will happen through inflows from accredited investors, in a private placement of equity (PIPE). The stock purchase agreement will offer convertible non-voting preferred stock, convertible into 154M of common stock. The conversion is subject to limitations set by company investors.

The shares will be convertible at a price of $3.25, with the additional option to buy 30.8M common shares at $3.25. If all options are fulfilled, Eyenovia can raise up to $150M, with no guarantees about the sum or the size and value of crypto purchases. 

In the short term, the price of EYEN climbed to $6.97, rising from lows of $2 in the past month. However, EYEN has erased over 86% of its value for the past 12 months, starting from above $106. 

Eyenovia is yet another company with no prior ties to crypto that has seen its shares rebound from lows following hints of crypto purchases. Universal Digital was one of the latest companies to announce a similar approach, though again through accumulating BTC. Classover Holdings also drew attention to itself, with a program to purchase SOL for $500M, financed through a recent stock offering.

Other similar cases include DeFi Dev Corp with a $100M purchase, and SOL Strategies with a $67M treasury. The effect on stock prices in this case was disparate, with DeFi Dev Corp. rising to a six-month high, while SOL Strategies trading sideways close to its recent lows.

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