Eyenovia’s HYPE Surge: How a Failing Biotech Became a Crypto Playbook

Eyenovia’s 77% Surge: Not Just Hype—It’s Strategy

Let me be clear: I don’t do emotional investing. But even I had to pause when Eyenovia (EYEN) surged 77% in one day after announcing it bought over 1 million \(HYPE tokens. A biotech firm with \)56k in revenue and $50M in losses? Buying crypto like it’s going out of style.

Yet here we are. This isn’t random speculation—it’s what I’d call the first institutional-grade Web3 balance sheet reengineering. And yes, it involves $HYPE.

The Rebirth of a Dying Stock

Eyenovia went from being a struggling eye drug company to a crypto-powered shell game—with legal backing and real assets now locked in Hyperliquid’s ecosystem.

They raised \(50M via PIPE—more than their entire market cap—and spent nearly all on \)HYPE at ~$34 per token. That’s not buying; that’s betting on infrastructure.

And the result? A stock that was trading under \(1 last year now sits at over \)26m market cap. Not bad for a company whose core product could barely cover lab supplies.

Enter Hyunsu Jung: The Ghost in the Machine

Who brought this strategy? Hyunsu Jung—the new CIO who didn’t come from pharma or finance… but from DARMA Capital and Aligned, two names you’ll find whispered across elite DeFi circles.

His background? McKinsey-trained Harvard grad (Baker Scholar), ex-consultant turned crypto strategist with real experience in restaking and validator economics.

And fun fact: He once lived with Max “@fiege_max”—Hyperliquid co-founder—in San Juan during their student days. Coincidence? Or early-stage protocol bonding?

The man isn’t just smart—he’s connected and ruthless about execution. That combo makes him dangerous… especially when he brings an entire corporate structure into DeFi.

Beyond Holding: The Rise of HyperStrategy™

This isn’t MicroStrategy holding BTC for appreciation alone. No—this is HyperStrategy, where capital is deployed through chain-native protocols:

• Staking HYPE for network rewards,
• Lending via Hyperliquid’s AMM,
• Participating in HIP-3 governance with over 100K HYPE,
• And using stablecoin pools to generate yield via multi-layered strategies.

The endgame? Create compound returns not from speculation—but from economic activity within the protocol itself.

Imagine if every public company had its own self-sustaining DeFi vaults generating income that flows back to shareholders as dividends or buybacks. That’s what Eyenovia is attempting—and EBZT just followed suit with its own multi-chain strategy targeting Solana, XRP, Sui, Bittensor… all wrapped around passive yield models.

If successful, we might see the birth of crypto-backed EPS, where earnings aren’t just reported—they’re earned on-chain.

But let’s be real: this feels like financial alchemy disguised as innovation. Can you really monetize staking rewards at scale without diluting value? The answer lies not in hype—but in governance design and capital efficiency metrics no investor has yet mastered properly.

Which brings us back to why HYPE matters—not because it’s sexy or trending—but because its protocol revenue model actually works at scale: The platform earns $2–3M daily in fees; TVL ranks top 10 globally; and now we have institutions treating it like sovereign debt rather than speculative tokenography. So yes—the narrative has changed. From “what if” to “how much.” And while some will call it madness… I call it evolution—one that could redefine how public companies manage capital entirely.