Lion Group Holding Ltd. (LGHL) and Eyenovia Inc. have made significant moves this week by unveiling separate major financing strategies centered on Hyperliquid’s HYPE token for their cryptocurrency treasuries.
LGHL has announced that it has secured a $600 million facility to launch the first and largest HYPE treasury in Asia. The Singapore-based trading and financial services firm also plans to include Solana (SOL) and Sui (SUI) in the reserve as secondary assets. Custody and staking will be managed by BitGo Trust Company.
In addition to this, LGHL is looking to expand its reach by evaluating secondary listings on the Tokyo Stock Exchange and Singapore Exchange. CEO Wilson Wang emphasized the company’s belief in decentralized on-chain execution as the future of trading. Wang stated, “We view protocols like HYPE, with delegated sequencing, as foundational to building scalable DeFi systems.”
On the other hand, Eyenovia announced a $50 million private placement to build a reserve of HYPE, becoming the first U.S.-listed company to add the cryptocurrency to its treasury. The ophthalmic technology firm expects the transaction to yield around $150 million if warrants are fully exercised. This funding agreement allows Eyenovia to acquire over 1 million HYPE and participate as a top validator for the Hyperliquid network.
Eyenovia CEO Michael Rowe expressed his enthusiasm for joining other companies in adopting cryptocurrency strategies for diversification, liquidity, and long-term capital appreciation potential. The company has appointed Hyunsu Jung as Chief Investment Officer to oversee the treasury initiative.
These developments reflect a broader trend of public companies diversifying their treasuries with major Layer-1 cryptocurrencies to generate yield and mitigate risk. Eyenovia’s private placement is expected to close around June 20, subject to customary approvals, while LGHL did not specify a timeline for its initiative but noted that it marks the relaunch of its crypto operations following prior restructuring.
Overall, the adoption of HYPE as a primary reserve asset for treasuries by these two public firms highlights the growing interest in cryptocurrency as a strategic financial asset in the corporate world. Stay tuned for more updates on this evolving trend in the cryptocurrency space.