HYPERION DEFI, INC. filed on December 10, 2025, to update risk factors related to its HYPE token treasury strategy, highlighting reliance on the volatile HYPE market, potential impacts from unlocks of large token holdings, and competition in the digital asset space. The company's HYPE holdings are valued at approximately $10.5 billion as of December 1, 2025, making them susceptible to market fluctuations that could significantly affect their financial condition, stock price, and investor confidence.