Hyperion DeFi Unwinds $28.7M HYPE Agreements After USDH Stablecoin Ceases Operations

According to Crypto Briefing, Hyperion DeFi, the first publicly listed Hyperliquid treasury company, is unwinding two agreements totaling approximately $28.7 million on June 8, involving around 800,000 HYPE tokens, representing roughly 40% of its holdings. The agreements were backed by stablecoin USDH, which has substantially ceased operations. The larger agreement with Felix Foundation covers 500,000 HYPE tokens, valued at $18.3 million as of March 31, supporting USDH-denominated perpetual contract trading in the HIP-3 market. The second agreement with Native Markets involves 300,000 HYPE tokens, valued at $10.4 million as of the same date. Native Markets already returned its tokens on June 3, ahead of the June 18 termination date. Felix agreement unwinding is scheduled for June 22, with token returns expected by June 29.
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