David Knox из PayPal возглавил финансовые дела Hyperion DeFi в эпоху криптоинноваций Translation: Head of Capital Markets at PayPal David Knox Takes Financial Helm at Hyperion DeFi Amid Crypto Innovations

David Knox, a top executive at PayPal, has transitioned to the digital asset management firm Hyperion DeFi, assuming the role of Chief Financial Officer. This was reported by Bloomberg.

During his one-and-a-half years at PayPal, Knox oversaw capital markets and lending finances. Previously, he held significant positions at SoFi Technologies and Cantor Fitzgerald.

Knox described his move as “an incredible opportunity to be at the forefront of financial innovation.”

Hyperion is acquiring cryptocurrencies, including the HYPE token from the Hyperliquid platform, believing in their price appreciation. The firm was previously known as Eyenovia Inc. and traded on Nasdaq. After a rebranding in July, it raised approximately $50 million, with its shares seeing a more than 400% increase since the beginning of summer.

The departure of the top executive from the TradFi giant occurred amid discussions in the industry regarding the valuation methods for cryptocurrency treasury companies. Greg Cipollaro, head of research at NYDIG, urged a reconsideration of the mNAV metric.

According to him, this indicator should be “removed and forgotten,” as it misleads investors.

The analyst noted that mNAV does not take into account other operational assets of firms beyond cryptocurrencies. Furthermore, the metric inaccurately represents convertible debt as equity. Cipollaro emphasized that holders of such debt would realistically demand cash rather than shares, which constitutes a more significant obligation for the company.

The analyst’s statement came after Strive announced its acquisition of Semler Scientific. This marked the first instance of a merger between two cryptocurrency treasury firms. Cipollaro added that the final stock value of the combined company would depend on the premium or discount to the net asset value established by investors.

In September, WSJ journalists reported that U.S. regulators are investigating potential insider trading in the securities of DAT firms.