The US-listed company Lion Group has completed its first acquisition of HYPE tokens worth 2 million dollars

ChainCatcher news, according to Prnewswire, Lion Group Holding Ltd. (NASDAQ: LGHL) today announced the completion of its first acquisition of Hyperliquid (HYPE) tokens, purchasing tokens worth $2 million at an average price of approximately $37.30 each. This move marks the official launch of the company's previously announced $600 million convertible debt financing plan, with an initial completion of $11 million in financing.

LGHL plans to use most of the 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 subsequent financings will be used for token acquisitions, 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 building a "next-generation Layer-1 token reserve," viewing HYPE as a foundational asset for decentralized finance.