Lion Group Holding Ltd. and Eyenovia Inc. Adopt HYPE Token for Treasury Management

Two prominent public firms, Lion Group Holding Ltd. (LGHL) and Eyenovia Inc., have recently announced significant moves to adopt Hyperliquid’s HYPE token as their primary reserve asset for treasury management. This strategic shift underscores a growing trend among companies seeking to diversify their financial reserves and capitalize on the potential of digital assets.

LGHL, a Singapore-based trading and financial services firm, has secured a $600 million facility to establish the first and largest HYPE treasury in Asia. This initiative not only positions LGHL as a pioneer in the region but also reflects the company's belief in the future of decentralized on-chain execution. In addition to HYPE, LGHL plans to include Solana (SOL) and Sui (SUI) as secondary reserve assets, further diversifying its treasury holdings. The custody and staking of these assets will be managed by BitGo Trust Company, ensuring robust security and operational efficiency.

As part of its expansion strategy, LGHL is evaluating secondary listings on major exchanges such as the Tokyo Stock Exchange and Singapore Exchange. This move aims to broaden the company's reach and enhance its market presence. CEO Wilson Wang emphasized the company's conviction in the potential of decentralized finance (DeFi) systems, stating, "We view protocols like HYPE, with delegated sequencing, as foundational to building scalable DeFi systems."

Meanwhile, Eyenovia Inc., an ophthalmic technology firm, has announced a $50 million private placement to build a reserve of HYPE. This makes Eyenovia the first U.S.-listed company to add the crypto to its treasury. The transaction is expected to yield approximately $150 million if warrants are fully exercised, providing a substantial financial boost. Eyenovia will acquire over 1 million HYPE tokens and participate as a top validator for the Hyperliquid network, further solidifying its commitment to the digital asset ecosystem.

Eyenovia's CEO, Michael Rowe, expressed enthusiasm about the move, stating, "We are pleased to join the growing number of companies who have adopted similar strategies for diversification, liquidity, and long-term capital appreciation potential that cryptocurrency represents." The company has appointed Hyunsu Jung as Chief Investment Officer to oversee the treasury initiative, ensuring expert management of its digital asset holdings.

Both LGHL and Eyenovia's announcements come at a time when more public companies are exploring the adoption of major Layer-1 cryptocurrencies as treasury reserves. This trend is driven by the desire for digital asset diversification and yield generation, reflecting a broader shift in corporate financial strategies. Eyenovia expects its private placement to close around June 20, pending customary approvals. LGHL, on the other hand, did not specify a timeline but indicated that its initiative marks the relaunch of its crypto operations following prior restructuring efforts.

These developments highlight the increasing acceptance and integration of cryptocurrencies into traditional financial systems. As more companies adopt digital assets as part of their treasury strategies, the landscape of corporate finance is poised for significant transformation. The moves by LGHL and Eyenovia serve as notable examples of this evolving trend, demonstrating the potential benefits of embracing decentralized finance and digital currencies.