Operator
Greetings, and welcome to Hyperion DeFi’s Q3 ’25 Earnings Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to Jason Assad. Thank you, Jason. You may begin.
Jason Assad
Good afternoon, and welcome to Hyperion DeFi’s 2025 Third Quarter Earnings Call. Joining me today are Interim CEO, Hyunsu Jung; and CFO, David Knox. Before we get started, please note that our remarks today may include forward-looking statements. These statements are subject to risks and uncertainties, and actual results may differ materially. During this call, we may use words like anticipate, could, enable, estimate, intend, expect, believe, potential, will, should, project and similar expressions, which indicate forward-looking statements. For a more comprehensive discussion of these and other risks, please refer to our filings with the SEC available on sec.gov and in the Investor Relations section of our website at hyperiondefi.com.
We’ll also reference certain non-GAAP financial measures today. Please refer to our earnings release and earnings supplement on our website for a full reconciliation of these non-GAAP measures to the most comparable GAAP measures. We will start this morning’s call with prepared remarks from Hyunsu and David, followed by Q&A. [Operator Instructions]
I’ll now turn the call over to our Interim CEO, Hyunsu Jung.
Hyunsu Jung
CEO, Chief Investment Officer & Director
Thank you, operator, and good afternoon, everyone. Welcome to Hyperion DeFi’s Third Quarter 2025 Earnings Call. Our first full quarterly earnings call since completing our strategic transformation from a biotech company to the first U.S. publicly listed digital asset treasury company focused on the Hyperliquid ecosystem. Now before I dive into our Q3
