Hyperliquid books $713M in yearly revenue as founder eyes tokenized assets

Hyperliquid pulled in $713 million in revenue over the past year. That figure comes from Bloomberg, which reported the haul on the decentralized trading platform's bottom line.

It's a striking number for a project that built its name in perpetual futures, the high-octane corner of crypto where traders bet on price moves with leverage rather than buying the asset outright.

Founder Jeff Yan isn't stopping at derivatives. He's pointing to tokenized assets as a possible next frontier for the platform — the same real-world-asset-on-chain theme that has been drawing attention across crypto.

The revenue disclosure lands as perp DEXs fight for volume and traders increasingly shop around for cheaper, faster venues. Hyperliquid's yearly figure gives it a loud talking point in that race.

What exactly Yan builds around tokenized assets, and when, isn't spelled out yet. For now the number — and the Bloomberg spotlight — do the talking.