- Lion Group Holding Ltd. (LGHL, Financial) has completed its initial purchase of Hyperliquid (HYPE) tokens, investing $2 million at an average price of $37.30 per token.
- The purchase comes after an $11 million initial closing under LGHL's $600 million convertible debenture facility.
- At least 75% of proceeds from subsequent facility closings will be dedicated to acquiring tokens such as HYPE, Solana (SOL), and Sui (SUI).
Lion Group Holding Ltd. (LGHL) has successfully completed its initial acquisition of Hyperliquid (HYPE) tokens, marking a significant step in its strategic treasury initiative aimed at integrating decentralized finance into its operations. The company purchased HYPE tokens worth $2 million, with the transaction completed at an average price of $37.30 per token.
This acquisition follows the first closing under the company's $600 million convertible debenture facility, which amounted to $11 million in principal. The facility aims to fund further token acquisitions, including HYPE, Solana (SOL), and Sui (SUI), enhancing the company's treasury reserve. According to LGHL, more than 75% of the net proceeds from subsequent closings will be allocated towards these token acquisitions.
Wilson Wang, CEO of LGHL, expressed confidence in the initiative, stating, "This marks the first step in our commitment to building a next-generation layer-1s treasury. HYPE represents a foundational execution-first asset in decentralized finance, and we view it as core infrastructure in the evolution of capital markets."
As the company continues to expand its crypto operations and on-chain initiatives, it plans to provide periodic updates on the development and progress of its treasury reserve.
