Nasdaq-listed Lion Group Holding (LGHL) is establishing a $600 million cryptocurrency treasury reserve, with the Hyperliquid (HYPE) token as its principal asset, signaling a rising institutional curiosity in altcoins past Bitcoin.
The Singapore-based buying and selling platform mentioned it secured a $600 million facility from ATW Companions to fund the launch of its Hyperliquid (HYPE) token treasury and different blockchain initiatives. In response to the corporate, $10.6 million of the capital might be deployed by June 20.
The Hyperliquid token will function the “major reserve asset” of the agency’s layer-1 (L1) treasury reserve asset, which may even characteristic Solana (SOL) and Sui (SUI) tokens.
“Hyperliquid represents a pure extension of LGHL’s current derivatives enterprise into decentralized markets, and displays our conviction that decentralized on-chain execution is the way forward for buying and selling,” mentioned Wilson Wang, CEO of LGHL in a Thursday announcement.
“We view protocols like HYPE, with decentralized sequencing, as foundational to constructing scalable DeFi methods,” he added.
The agency cited Solana’s dominance in consumer-facing crypto apps and Sui’s current backing from World Liberty Monetary as key components in its altcoin choice.
Sui partnered with the Trump family-backed World Liberty Monetary (WLFI) on March 6, which noticed the token included in WLFI’s “Macro Technique” token reserve, three months after a December interview revealed that Eric Trump held SUI tokens.
Shareholders acquired the crypto reserve information with optimism, with Lion Group’s inventory worth hovering practically 20% on the day by day chart after the announcement to commerce at $3.33 on the time of writing, in accordance with Google Finance information.
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Company altcoin treasuries are gaining traction
The treasury launch comes the identical day one other Nasdaq-listed agency, Eyenovia, introduced its personal Hyperliquid reserve. Max Giege, principal at Merenti Capital, known as HYPE “the best-positioned digital asset for the longer term,” and praised the protocol’s totally on-chain, friction-free buying and selling mannequin.
“It’s uncommon {that a} native token’s incentives really monitor the community’s success.
“HYPE is the best-positioned digital asset for the longer term, and Eyenovia will successfully seize that worth for shareholders,” he added.
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More and more extra firms are saying company treasury plans, together with corporations from conventional industries.
On June 11, Interactive Energy, a Nasdaq-listed health tools producer, introduced a $500 million increase to amass Fetch.ai (FET) tokens and set up the world’s largest company AI token treasury, in accordance with the agency.
ATW Companions was additionally among the many preliminary traders for Interactive Energy’s $500 million treasury. ATW Companions and DWF Labs made a collective $55 million funding within the health producer, which was already used to amass FET tokens.
Elsewhere, Nasdaq-listed Genius Group elevated its Bitcoin (BTC) treasury by 52%, surpassing 100 BTC bought for a complete of over $10 million, Cointelegraph reported on June 17.
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