Tony G Co-Investment Buys $438,000 in $HYPE Tokens, Largest DeFi Investment to Date

Tony G Co-Investment Holdings has confirmed the purchase of 10,387 $HYPE tokens, the native asset of the Hyperliquid ecosystem, for approximately $438,000. This acquisition marks the company’s largest investment in decentralized finance to date and is the first instance of a publicly listed company adding $HYPE to its treasury. The tokens were acquired at an average price of $42.24 each, reflecting a significant increase from the token's launch price of $1 in late 2024. This move positions Tony G Co-Investment as the largest known $HYPE holder among publicly listed firms.

The acquisition was executed through WonderFi Technologies, a Canadian digital asset platform. This investment comes at a time when Hyperliquid is experiencing a rise in market share and token value. Matt Zahab, CEO of Tony G Co-Investment Holdings, highlighted the strategic importance of this investment, stating, “This acquisition reflects our strategic commitment to supporting digital infrastructure that is driving the next wave of innovation. Hyperliquid represents one of the most exciting developments in decentralized trading infrastructure.” Zahab, who took over as CEO on June 8, brings extensive marketing and media experience, including his role as host of the Cryptonews Podcast. He replaces Ron Akram, who stepped down as director earlier this month, with Gediminas Klepackas, formerly interim CEO, now serving as Chief Operating Officer.

The firm made headlines in 2022 when it sold its stake in News 3.0, the parent company of Cryptonews.com, netting $2 million in crypto payments during a period when DeFi markets were reeling from the FTX collapse. This latest acquisition draws parallels to another Tony G-backed venture, Sol Strategies. The publicly traded company began accumulating a large position in SOL in 2019 and has since become heavily invested in the Solana ecosystem. Tony G now serves as chairman and holds 36.8 percent of the company’s shares. In 2024, he helped secure a CA$10 million revolving credit facility, which contributed to a 12 percent surge in the company’s stock price on the announcement day. Under his leadership, Sol Strategies used the credit facility to expand its Solana holdings. Currently, the firm holds more than CA$48 million in crypto assets, primarily in SOL and SUI.

Despite reporting a net loss of CA$4.8 million in the second quarter of 2025, the company saw its staking and validation revenue increase year over year, rising from just CA$67,000 to CA$2.54 million. While Hyperliquid does not belong to the Solana ecosystem, observers have begun to ask whether Tony G is applying the same strategy. With Sol Strategies focused on consolidating SOL, this latest move into $HYPE suggests a similar long-term vision, albeit on a different blockchain. Hyperliquid’s trading volume reached $248 billion in May, an 843 percent increase compared to the same period last year. The platform offers centralized exchange performance combined with decentralized custody. Its Season 2 points campaign has also attracted thousands of new traders.

$HYPE’s recent surge has been fueled by both influencers and large-scale traders. Andrew Tate drew attention after publicly revealing a 25-times leveraged ETH long position on the blockchain, which gained 138%. Whale activity has also picked up. One wallet acquired over 259,000 $HYPE tokens for nearly $10 million and reportedly earned over $10 million in cumulative profits from trading $HYPE alone. Analysts believe the token is approaching the $50 psychological level. Some Fibonacci-based models suggest future price targets of $77 and $103. With a market capitalization of $13.39 billion, Hyperliquid has already surpassed SUI and is approaching Cardano’s $25 billion valuation. There is also speculation about a potential listing on Binance.US. The exchange posted a teaser covering Hyperliquid last week, which coincided with the emergence of listing rumors.

For Tony G, this may signal another early bet built on conviction, large-scale entry, and a long-term plan. “We are proud to be one of the first public companies to invest in the Hyperliquid ecosystem. This is just the beginning,” Zahab said. Given Tony G’s history in DeFi, some see $HYPE as his next high-conviction move. This investment underscores Tony G Co-Investment Holdings' commitment to supporting innovative digital infrastructure and positions $HYPE as a potential key player in the decentralized finance landscape.