Lion Group completed its first acquisition of HYPE Token and launched a $600 million funding plan.

According to Deep Tide TechFlow news on June 26, as reported by Prnewswire, Lion Group Holding Ltd. (NASDAQ: LGHL) announced today the completion of its first acquisition of Hyperliquid (HYPE) tokens, purchasing tokens worth 2 million dollars at an average price of approximately 37.30 dollars per token. This move marks the official launch of the company's previously announced 600 million dollar convertible debt financing plan, with the first phase having completed 11 million dollars in financing.

LGHL plans to use most of its funds to expand its Token reserves, including further purchases of HYPE, Solana (SOL), and Sui (SUI). According to the terms of the agreement, at least 75% of the net proceeds from each subsequent financing will be used for Token acquisition, with the remaining funds supporting crypto business operations and on-chain projects.

LGHL CEO Wilson Wang stated that this acquisition is the first step in the company's commitment to establish a "next-generation Layer-1 Token reserve", viewing HYPE as a foundational asset for decentralized finance.