Company Update
Hyperliquid Generates $105M Revenue in September 2026
Hyperliquid reported approximately $105 million in revenue for September 2026, similar to $108 million a year earlier despite a crypto bear market. Core trading fees fell from over 90% to 64% of revenue, with non‑core sources such as third‑party perpetual futures, builder code fees, USDC reserve yield from a Coinbase/Circle deal, and spot, gas, and auction fees contributing $38 million, double the prior year. Upcoming US‑regulated deployments by Payward and ICE‑partnered Trade.xyz could further expand growth.