A Canadian company, Tony G Holdings (TONY on the CSE), just made a huge splash in the decentralized finance (DeFi) world. They bought a whopping 10,000 HYPE tokens – the native currency of the Hyperliquid exchange – for over $420,000! This is the largest investment in Hyperliquid by a publicly traded company to date.
Why the Big HYPE?
Tony G Holdings is an investment company focused on crypto, payment processing, and blockchain. This HYPE purchase is part of their long-term digital asset strategy, a “significant milestone” for the company, according to their press release. The deal was facilitated by WonderFi.
Tony G’s CEO, Matt Zahab, explained the move: “This acquisition reflects our strategic commitment to supporting digital infrastructure driving the next wave of innovation. HyperLiquid represents one of the most exciting developments in decentralized trading infrastructure, and we are proud to be one of the first public companies to invest in the HyperLiquid ecosystem.”
Tony G’s Crypto History
This isn’t Tony G’s first rodeo in the crypto space. Back in 2022, they sold a majority stake in cryptonews.com for $2 million, accepting some payment in cryptocurrency – a bold move during the FTX fallout.
HYPE ETF on the Horizon?
Hyperliquid has built a reputation for prioritizing users over large institutional investors. The Tony G investment has sparked speculation within the Hyperliquid community about a potential HYPE exchange-traded fund (ETF), especially given recent talk of a Solana ETF. One community member even suggested that a “Microstrategy for HYPE” (referencing Microstrategy’s significant Bitcoin holdings) might be on the way. The price of HYPE has skyrocketed from $1 to around $42 in under a year, adding fuel to the excitement.
