This is a very good post but also Hyperliquid’s “revenue” is probably better compared to Robinhood’s net income since it flows straight to tokenholders with no incremental expenses. $HOOD Q2 net income: $386M $HYPE buybacks at ~$200M is within striking distance.
steven.hl
steven.hl31.7.2025
In just 2 years, Hyperliquid is quickly rising to become a similarly sized business as Robinhood: + Market cap: 14B (HYPE) vs 93B (HOOD) + June 2025 platform volume: $231B vs $150B + Q2 2025 revenue: $173M vs $1B + Lifetime buybacks: $400M+ vs $600M+ Hyperliquid
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