At the year’s buzziest blockchain conference, a new crypto powerhouse emerges

The spectacular Wyoming village of Jackson Hole is marked by gorgeous mountain peaks, plentiful wildlife, and, for a few days every August, a gathering of the most powerful people in crypto. They come to take part in Anthony Scaramucci’s SALT conference, which has become the industry’s most high-signal event. I tagged along this year, and sat down with the likes of Binance’s CZ and former New York Governor Andrew Cuomo, who has a new gig repping crypto exchange OKX. The person who made the biggest impression on me, though, was Hyperliquid Strategies CEO David Schamis. He is not well known in crypto circles—but that’s likely to change due to his company’s recent rocketship trajectory.

Schamis is an old-school Wall Street guy who spent his early career at Salomon Brothers, the trading shop immortalized in Michael Lewis’s Liar’s Poker. His current act involves running a publicly traded firm that’s built a business amassing Hyperliquid’s HYPE token. It’s a digital asset treasury, or DAT, in other words. Most DATs these days are a dumpster fire, but Hyperliquid Strategies, which started trading in December under the meme-inspired........

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