Nasdaq-listed Lion Group Holding Ltd. (LGHL) has secured a $600 million credit facility from ATW Partners to launch the world's largest Hyperliquid (HYPE) treasury. The treasury will primarily hold HYPE tokens as its main reserve asset, alongside allocations in Solana (SOL) and Sui (SUI) tokens. Lion Group has completed the first tranche of HYPE token purchases, acquiring $2 million worth of HYPE following the initial closing of the facility. BitGo will provide custody and staking services to support the treasury strategy. Separately, DeFi Development Corp. (NASDAQ: DFDV), a Solana-focused treasury management firm, announced a $112.5 million private placement of convertible senior notes due 2030. Approximately $75.6 million of the proceeds will be used to acquire more SOL tokens, with the remainder allocated for stock repurchases and general corporate purposes. As of July 3, 2025, DeFi Development Corp. has accumulated approximately 640,585 SOL tokens valued at around $98.1 million, including an additional purchase of 17,760 SOL at an average price of $153.10 per token.