Nasdaq-listed monetary companies agency Lion Group Holdings beforehand introduced that it has accomplished its first acquisition as a part of its $600 million cryptocurrency treasury technique.
In keeping with the official assertion, the corporate accomplished its first HYPE buy of $2 million inside the scope of the $600 million reserve plan.
Lion Group additionally added that it’s going to buy extra Hyperliquid (HYPE), Solana (SOL), and SUI.
” The corporate accomplished its first strategic acquisition in Hyperliquid (HYPE), making it the primary strategic acquisition underneath its beforehand introduced HYPE treasury initiative.
HYPE tokens had been bought for $2 million at a mean value of roughly $37.30.
Further acquisition plans are ongoing for HYPE, Solana (SOL) and Sui (SUI).”
The HYPE acquisition follows the preliminary closing of $11 million principal quantity of the corporate’s $600 million convertible word facility.
Though the corporate is initially specializing in the HYPE token, Lion Group stated it would additionally purchase Solana and Sui as a part of its $600 million plan.
At this level, the corporate plans to make use of a good portion of the online proceeds to make extra HYPE, SOL and SUI acquisitions. Accordingly, based mostly on present situations, at the very least 75% of the online proceeds from every closing shall be allotted to SUI, SOL and HYPE acquisitions for the corporate’s treasury reserve.
*This isn’t funding recommendation.
