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Nasdaq Listed Company Applied to Create a $600 Million Treasury from Surprise Altcoin! It Also Has Plans for Two Other Altcoins!
Lion Group Holding Ltd., listed on Nasdaq, announced that it has secured $600 million in funding from ATW Partners to support its new strategy focused on decentralized finance (DeFi). This funding will be used to launch the company's Hyperliquid HYPE focused Treasury Initiative.
The newly created HYPE Treasury aims to strategically accumulate HYPE as the primary reserve asset of LGHL. Additionally, leading next-generation layer-1 blockchains such as Solana (SOL) and Sui (SUI) are also planned to be included in the treasury reserves. These assets will be held and staked by BitGo Trust Company Inc.
In a statement, LGHL CEO Wilson Wang said, "Hyperliquid is a natural expansion area that carries LGHL's current derivatives product activities to decentralized markets. We believe that protocols like HYPE, which offer decentralized sequencing, are the building blocks for establishing scalable DeFi systems."
Wang also described Solana as the leader in user-centric applications, while he characterized Sui as a strategic layer-1 solution with high performance and modular architecture. Sui had recently received investment from World Liberty Financial, backed by Eric Trump.
The company aims to be the first entity in Asia to list the HYPE treasure initiative. Accordingly, it announced that it is evaluating secondary public offering options (SGX) on the Tokyo Stock Exchange (TSE) and the Singapore Stock Exchange. With this move, it is aimed to expand access to the global investor base.
BitGo CEO Mike Belshe stated in his announcement, "This $600 million financing is a clear indication that institutional investors are turning to the next generation of blockchain ecosystems. We are proud to offer institutional-grade custody and staking solutions for LGHL on networks like Solana and Sui."
*This is not investment advice.
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