Lion Group Holding Ltd. (LGHL), a company listed on Nasdaq, has received $600 million in funding from ATW Partners to start a treasury strategy that would focus on Hyperliquid (HYPE).
According to the press release, LGHL plans to use the fund to buy a large amount of HYPE and build what it hopes will become the biggest HYPE treasury in the world.
“Hyperliquid represents a natural extension of LGHL’s existing derivatives business into decentralized markets.” The company’s CEO, Wilson Wang, said, in the press release.“We view protocols like HYPE, with decentralized sequencing, as foundational to building scalable DeFi systems.”
Additionally, the facility will also fund strategic holdings in Solana (SOL) and Sui (SUI) and is working with BitGo, a leading crypto security company, to handle the storage and staking of LGHL’s SOL and SUI coins.
BitGo CEO Mike Belshe, said in the press release that the company is proud to support “LGHL’s strategic expansion into Solana and Sui… BitGo is positioned to power this next wave of institutional adoption, and we’re excited to serve as LGHL’s trusted partner at the forefront of this new phase in digital asset treasury management.”
Furthermore, LGHL also plans to list its stock in Asia, possibly in Tokyo and Singapore. If that happens, it would be the first public company in Asia with a HYPE-focused treasury. The first part of the funding, which is a total of $10.6 million, is expected to be completed within two days.
Meanwhile, Eyenovia, a U.S.-based eye technology firm, has also disclosed plans to deploy $50 million into a Hyperliquid treasury.
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