Hyperion DeFi Unwinds $29 Million in HYPE Deals as USDH Stablecoin Sunsets
Nasdaq-listed Hyperion DeFi (HYPD) is unwinding $29 million in HYPE token deployment agreements following Native Markets' May 14, 2026 announcement that the USDH stablecoin will be discontinued. The company will unstake 500,000 HYPE from Felix Foundation on June 22, 2026 and reposition approximately 800,000 HYPE tokens—roughly 40% of its treasury—to new strategies it expects to be more profitable.
USDH stablecoin sunset
▪Native Markets announced the USDH stablecoin sunset on May 14, 2026.
▪Felix Foundation signaled on May 14, 2026 that its USDH-denominated HIP-3 markets would be discontinued following a future announcement.
▪Felix Foundation announced on June 7, 2026 that it would deprecate USDH vaults on Felix Vanilla on June 12, 2026.
HAUS agreement unwinds
▪The 300,000 HYPE associated with the Native Markets Temporary Use Agreement was returned on June 3, 2026.
▪Native Markets terminated its Temporary Use Agreement with Hyperion DeFi effective June 18, 2026.
▪All remaining payments and tokens from the Felix Foundation HAUS agreement will be returned by June 29, 2026.
▪Hyperion DeFi agreed with Felix Foundation on June 7, 2026 to wind down a HYPE Asset Use Service agreement supporting Felix's HIP-3 perpetual futures markets.
▪Hyperion DeFi will unstake the 500,000 HYPE backing the Felix Foundation deal on June 22, 2026.
HYPE token repositioning
▪The 800,000 HYPE being repositioned represents roughly 40% of Hyperion DeFi's treasury.
▪Hyperion DeFi holds about 2 million HYPE total per its latest disclosures.
Hyperion financial position
▪Assets tied to the Native Markets arrangement were valued at approximately $10.4 million as of March 31, 2026.
▪Hyperion DeFi CEO Hyunsu Jung purchased 8,000 shares in the open market on June 1 and June 2, 2026.
▪Hyperion DeFi is sitting on roughly $35 million in unrealized gains on its HYPE holdings.
▪Hyperion DeFi shares closed at $2.99 on June 7, 2026.
▪The HAUS agreement unwinds do not change Hyperion DeFi's 2026 adjusted gross profit guidance of $5 million to $7 million.
▪Hyperion DeFi filed an 8-K after market close on June 7, 2026.
▪Assets associated with the Felix Foundation arrangement were valued at approximately $18.3 million as of March 31, 2026.
▪Hyperion DeFi's triple-dip yield strategy generated 3.1 times the income of base staking yield in the first quarter of 2026.
Crypto treasury company performance
▪Bitcoin treasury company Strategy is carrying roughly $12.8 billion in unrealized losses.
▪Ether treasury company Bitmine is carrying roughly $10.5 billion in unrealized losses.
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