Nasdaq-listed Lion Group bets big on Hyperliquid with $600M HYPE treasury

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Nasdaq-listed Lion Group Holding (LGHL) is establishing a $600 cardinal cryptocurrency treasury reserve, with the Hyperliquid (HYPE) token arsenic its main asset, signaling a increasing organization involvement successful altcoins beyond Bitcoin.

The Singapore-based trading level said it secured a $600 cardinal installation from ATW Partners to money the motorboat of its Hyperliquid (HYPE) token treasury and different blockchain initiatives. According to the company, $10.6 cardinal of the superior volition beryllium deployed by June 20.

The Hyperliquid token volition service arsenic the “primary reserve asset” of the firm’s layer-1 (L1) treasury reserve asset, which volition besides diagnostic Solana (SOL) and Sui (SUI) tokens.

“Hyperliquid represents a earthy hold of LGHL’s existing derivatives concern into decentralized markets, and reflects our condemnation that decentralized on-chain execution is the aboriginal of trading,” said Wilson Wang, CEO of LGHL successful a Thursday announcement.

“We presumption protocols similar HYPE, with decentralized sequencing, arsenic foundational to gathering scalable DeFi systems,” helium added.

The steadfast cited Solana’s dominance successful consumer-facing crypto apps and Sui’s caller backing from World Liberty Financial arsenic cardinal factors successful its altcoin selection.

Sui partnered with the Trump family-backed World Liberty Financial (WLFI) connected March 6, which saw the token included successful WLFI’s “Macro Strategy” token reserve, 3 months aft a December interrogation revealed that Eric Trump held SUI tokens.

Shareholders received the crypto reserve quality with optimism, with Lion Group’s banal terms soaring astir 20% connected the regular illustration aft the announcement to commercialized astatine $3.33 astatine the clip of writing, according to Google Finance data.

Corporate altcoin treasuries are gaining traction

The treasury motorboat comes the aforesaid time different Nasdaq-listed firm, Eyenovia, announced its ain Hyperliquid reserve. Max Giege, main astatine Merenti Capital, called HYPE “the best-positioned integer plus for the future,” and praised the protocol’s afloat on-chain, friction-free trading model.

“It is uncommon that a autochthonal token’s incentives genuinely way the network’s success.

“HYPE is the best-positioned integer plus for the future, and Eyenovia volition efficaciously seizure that worth for shareholders,” helium added.

Increasingly much companies are announcing firm treasury plans, including firms from accepted industries.

On June 11, Interactive Strength, a Nasdaq-listed fittingness instrumentality manufacturer, announced a $500 cardinal raise to get Fetch.ai (FET) tokens and found the world’s largest firm AI token treasury, according to the firm.

ATW Partners was besides among the archetypal investors for Interactive Strength’s $500 cardinal treasury. ATW Partners and DWF Labs made a corporate $55 cardinal concern successful the fittingness manufacturer, which was already utilized to get FET tokens.

Elsewhere, Nasdaq-listed Genius Group accrued its Bitcoin (BTC) treasury by 52%, surpassing 100 BTC purchased for a full of implicit $10 million, Cointelegraph reported connected June 17.