Updated June 19, 1:58 pm UTC: This article has been updated to include comments from Bitget Wallet’s CMO.
Nasdaq’s Lion Group Backs $600M Treasury in Hyperliquid Token
Lion Group Holding (LGHL) is establishing a $600 million cryptocurrency treasury reserve, primarily backing it with Hyperliquid (HYPE) tokens.
Funding Secured
Singapore-based trading platform operator Lion Group Holding (LGHL) has secured a $600 million facility from ATW Partners to fund its Hyperliquid token treasury and other blockchain initiatives, with $10.6 million planned for immediate deployment.
Tech-Led Reserve Strategy
The Hyperliquid token will serve as the “primary reserve asset” within the company’s layer-1 treasury, alongside allocations to Solana (SOL) and Sui (SUI).
Wilson Wang, CEO of LGHL, stated: “Hyperliquid represents a natural extension of our derivatives business into decentralized markets, reflecting our conviction that decentralized onchain execution is the future of trading.”
He further explained, “We view protocols like HYPE, with decentralized sequencing, as foundational to building scalable DeFi systems.”
Selection Rationale
LGHl highlighted Solana’s dominance in consumer-facing crypto apps and Sui’s backing from World Liberty Financial as key factors in its altcoin selection process.
The partnership involves Sui with World Liberty Financial, controversially linked to the Trump family, which resulted in Sui being included in their “Macro Strategy” reserve following Eric Trump’s previous public interest in the token.
Market Reaction
Following the announcement, Lion Group’s stock price surged nearly 20% according to Google Finance data.
Institutional Trend Evident
Funding secured by ATW Partners earlier for this treasury also connects to corporate treasury developments, such as Eyenovia launching its own Hyperliquid-focused treasury on the same day. Financial expert Max Giege of Merenti Capital called HYPE “the best-positioned digital asset for the future.”
“Holding tokens like SOL or SUI isn’t about digital gold,” stated Jamie Elkaleh, Chief Managing Officer at Bitget Wallet. “Ideally, enterprises would allocate treasury funds strategically to the protocols supplying the core infrastructure for future applications.” He emphasized active participation over passive exposure.
Wider Trend
The trend shows accelerating corporate treasury commitments in crypto_asset_ism beyond Bitcoin, exemplified by numerous Nasdaq-listed entities increasing their digital asset allocations.
Examples include Nasdaq-listed fitness equipment maker Interactive Strength, which announced acquiring $500 million to purchase Fetch.ai (FET) tokens for its treasury, and luxury group Genius Group, which recently expanded its Bitcoin treasury by 52%.
ATW Partners was also involved in Interactive Strength’s funding round. For further reading on corporate treasury developments, see Cointelegraph’s piece on Fetch and Interactive Strength.
Genius Group’s Bitcoin treasury expansion was previously covered on Cointelegraph.
