Tony G Co-Investment Holdings has made a significant investment in the decentralized finance space by purchasing 10,387 $HYPE tokens, the native asset of the Hyperliquid ecosystem, for over $438,000. This marks the company’s largest investment in decentralized finance to date.
The tokens were acquired at an average price of $42.24 each, making this the first time a publicly listed company has taken a position in the Hyperliquid protocol. The acquisition was made through WonderFi Technologies, a Canadian digital asset platform, amid Hyperliquid’s increasing market share and token value.
$HYPE tokens have seen a remarkable surge in value, going from $1 at launch in late 2024 to over $42 within a year. With this purchase, Tony G Co-Investment Holdings now holds the largest known $HYPE position among publicly listed firms.
Matt Zahab, CEO of Tony G Co-Investment Holdings, expressed the company’s strategic commitment to supporting digital infrastructure that is driving innovation. He highlighted Hyperliquid as one of the most exciting developments in decentralized trading infrastructure.
Zahab, who recently took over as CEO, brings a wealth of experience in marketing and media, including his role as host of the Cryptonews Podcast. He replaced Ron Akram, who stepped down as director earlier this month. Gediminas Klepackas has been named Chief Operating Officer.
Tony G Co-Investment Holdings made headlines in 2022 when it sold its stake in News 3.0, the parent company of Cryptonews.com, for $2 million in crypto payments during a tumultuous period in the DeFi markets. The company has also been heavily invested in the Solana ecosystem through its venture, Sol Strategies.
Under Tony G’s leadership, Sol Strategies secured a CA$10 million revolving credit facility in 2024, contributing to a surge in the company’s stock price. The firm has since expanded its holdings in SOL and SUI, holding more than CA$48 million in crypto assets.
While Hyperliquid is not part of the Solana ecosystem, Tony G’s move into $HYPE tokens suggests a similar long-term vision on a different blockchain. The platform has seen a surge in trading volume and user activity, with influencers and large-scale traders driving the token’s value higher.
Analysts believe $HYPE is approaching the $50 mark, with potential future price targets of $77 and $103. Hyperliquid’s market capitalization has surpassed SUI and is nearing Cardano’s valuation.
There is speculation about a potential listing on Binance.US, with the exchange teasing coverage of Hyperliquid. For Tony G, this investment may signal another high-conviction move in the DeFi space, following the success of Sol Strategies.
Overall, Tony G’s investment in $HYPE tokens demonstrates a continued commitment to the digital asset space and a strategic approach to decentralized finance. The company’s entry into the Hyperliquid ecosystem may pave the way for future growth and opportunities in the decentralized trading landscape.