Former PayPal Executive David Knox Joins Hyperion DeFi as CFO

Former PayPal executive David Knox has joined Hyperion DeFi as CFO, marking a bold career move into the fast-growing world of digital asset treasuries (DAT). The appointment highlights how traditional finance leaders are now stepping into crypto-focused firms that are scaling at speed.

David Knox’s Transition to Crypto

Knox previously led capital markets and finance for global credit at PayPal. Before that, he held senior roles at SoFi Technologies and Cantor Fitzgerald. Although he only spent a few years at PayPal, Knox built a reputation as a sharp strategist.

Now, he says Hyperliquid’s ecosystem convinced him to take the leap. “I developed the strong view that it’s an incredible opportunity to be at the cutting edge of financial innovation,” Knox explained. He added that this move is a once-in-a-lifetime chance.

Hyperion’s Focus on HYPE Tokens

Hyperion DeFi is a DAT firm focused on HYPE tokens, the native cryptocurrency of Hyperliquid, a rapidly growing decentralized exchange (DEX). The firm has been aggressively building its portfolio.

Recently, Hyperion announced another $10 million acquisition. This raised its total holdings to 1,712,195 HYPE, worth roughly $79 million. With HYPE priced at $46.09, the firm has already secured an unrealized profit of about $13.4 million.

Purchased at an average of $48.25, Hyperion’s treasury now ranks as the largest in the space. It far outpaces Lion Group Holding, which holds just 128,929 HYPE. This lead underscores Hyperion’s determination to dominate the DAT market.

The Rise of DAT Firms

Crypto treasuries are not new, but their scope is expanding. Michael Saylor’s MicroStrategy popularized the concept by turning its balance sheet into a massive Bitcoin treasury. That move set off a wave of corporate strategies.

Today, more firms are entering the space with altcoin-focused treasuries. Ethereum, Solana, Sui, and Binance Coin are among the tokens finding their way into corporate reserves.

Some firms pivot completely to DAT. Others integrate digital assets alongside existing business operations. For example, Upexi, a retail supply chain firm, recently offset its yearly losses with gains from a Solana treasury.

Hyperion’s Corporate Shift

Hyperion’s journey reflects this broader trend. The company used to operate as Eyenovia, a pharmaceutical and medical device firm focused on eye care. However, in July 2025, it rebranded to Hyperion DeFi Inc. and adopted the Nasdaq ticker HYPD.

That bold shift shows how struggling companies are transforming into crypto treasuries. Instead of relying on traditional business lines, they are betting on digital assets to deliver shareholder value.

Knox’s Role Moving Forward

Knox’s arrival as CFO signals Hyperion’s next growth phase. His capital markets background will be key in managing the expanding HYPE portfolio. He also brings credibility as the firm positions itself among institutional investors.

Moreover, his appointment suggests that Hyperion is preparing for more aggressive acquisitions. With its growing profit cushion and market lead, the firm may aim to cement itself as the top DAT player tied to Hyperliquid.

Industry Impact

Knox’s move underscores a bigger trend: the migration of top traditional finance talent into crypto firms. This transition shows how the boundaries between Wall Street and decentralized finance continue to blur.

As Knox steps into his new role, Hyperion’s strategy reflects how DAT firms are reshaping capital allocation. Instead of holding cash or bonds, they are embracing volatile but high-growth digital assets.

Conclusion

Former PayPal executive David Knox joining Hyperion DeFi as CFO highlights the rise of DAT strategies in mainstream finance. With the largest HYPE portfolio, Hyperion is setting the pace. And with Knox on board, the firm looks ready to scale its ambitions even further.

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